CPD RMG Study Stitching a better future for Bangladesh
Every day, CPD RMG Study team reveals what’s on our economic and apparel radar and curates a selection of the best reports, opinion, and analysis you may have missed.
Meeting of Bangladesh Sustainability Compact held in Brussels
The latest high-level meeting of the international compact to improve the rights and safety of workers in Bangladesh’s ready-made garment (RMG) industry began on Monday in Belgium. Monday’s meeting at the Albert Borschette Conference Centre in Brussels was the fourth held under the compact and reviewed progress made and what still needs to be done. The meeting titled “Five Years after the Launch of the Sustainability Compact: Taking Stock and Staying Engaged” – began with an opening address by the EU Commissioner for Trade Cecilia Malmstrom, Commerce Minister Tofail Ahmed, and ILO’s Deputy Director-General for Policy, Deborah Greenfield.
Govt. to form Tk 10,000 crore fund for development of jute sector
The jute ministry is working on a policy to form a Tk 10,000 crore fund to provide low-cost loans for the development of the nearly $1 billion export earning jute sector. The 20-year revolving fund will be based on the budgetary allocation and provide loans to farmers, traders, industrialists, diversified goods producers and exporters. The loans will be disbursed at 5 percent interest and half of the interest payments would come from the state coffer as subsidy. Bangladesh Bank would be assigned to manage the fund, to where banks would also enjoy access under refinancing arrangement.
ADB to give a loan of $500m for building 800MW plant
The Asian Development Bank (ADB) will provide Bangladesh with US$500 million in loan to help build a state-of-the-art 800 megawatt (MW) power plant in Khulna. Part of the loan will also be spent for linking it up with natural gas and power transmission facilities. Board of Directors of the multilateral lender approved the loan on Tuesday at its headquarters in Manila, Philippines.
