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Two RMG companies receive financing under Sustainability Project

Two RMG companies received loans of over BDT 14.75 Crore under a Project designed by Bangladesh Bank to strengthen economic sustainability of the RMG sector named “Program to Support Safety Retrofits and Environmental Upgrades in the Bangladeshi Ready-Made Garment (RMG) Sector Project (SREUP)”. A cheque handover ceremony was held at Bangladesh Bank office on 05 November, 2020.

Under this program, companies will receive loans at maximum 7℅ based on certain Eligibility Criterias. The objective of SREUP is to make the RMG industry safer (safety: fire, electricity & building structure), greener (environment: effluent treatment plant, better management of solid waste, reduction of water and power consumption, etc) and a decent place to work (social: better aeration, installation of air-conditioning, construction of a canteen, childcare facility, etc) through financial and technical support.

The cheque was handed over to Sparrow Apparels Ltd. through Southeast Bank Ltd and Virtual knit and Leisurewear Ltd. through Bank Asia Ltd.

Executive Director Mr. Abu Farah Md. Nasser, Managing Director of Southeast Bank Ltd Mr. M. Kamal Hossain, President & Managing Director of Bank Asia Ltd Mr. Md. Arfan Ali, Project Director Md. Abdul Mannan and other high officials were present in the ceremony.

The loans under SREUP will be disbursed through seven banks and NBFIs: Southeast Bank Limited, One bank Limited, NCC Bank Limited, Bank Asia Limited, Mutual Trust Bank Limited, IDLC Finance Limited and IPDC Finance Limited.

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