Bangladesh Bank along with French Development Agency (AFD), European Union (EU), KFW Development Bank has undertaken a program for security reforms in the garment sector. The ‘SREUP’ project consisting of a loan of 50 million Euros and a grant of 10.29 million Euros is being implemented with the aim of developing the overall safety system including the safety of the workers in the garment sector and making the industrial establishments of this sector environmentally friendly.
On Wednesday (August 3), a program was organized in a hotel in the capital. Representatives of project development agencies, Ministry of Finance, commercial banks, manufacturing plant owners, BGMEA and RSC were present in the event.
The executive director of Bangladesh Bank informed all the investors and stakeholders of the project about the ‘SREUP’ project. Obaidul Haque. European Union Head of Cooperation Maurizio Chan, AFD Country Director Bunoa Chalat, Finance Ministry Joint Secretary Kamrul Haque Maruf and Bangladesh Bank Director and Project Manager Moni Shankar Kundu spoke at the event.
Bangladesh Bank Deputy Governor Abu Farah Md. was the chief guest at the event. of the dance Referring to the low interest rates and incentive benefits of the ‘SREUP’ project, the Deputy Governor expressed hope that the potential of the garment sector created through such a project would be more rapid and sustainable.
Joint Director Kumkum Sultana gave a presentation on the credit line of the project. Through this project, the garment industry will receive more information about fire, electricity and structural reforms, green energy i.e. ETP, waste management, reduction of consumption of electricity and water resources and more comfortable working environment, air conditioning, construction of canteens and toilets, construction of children’s day care etc. Technical assistance is provided.
On the occasion of the successful completion of the investment through ‘SREUP’ project loan, the two factories were handed over a donation check. The factories are respectively Mercantile Bank customer MT Sweaters Limited and Southeast Bank Limited customer Hote Outerwear Limited. Both the companies are 100% export oriented factories. They were awarded this grant as a result of their successful completion of the project through the ‘SREUP’ prefinal.