Bangladesh Bank arranges awareness program for RMG sector

Desk Report: Bangladesh Bank arranged an Awareness Program for “Program to Support Safety Retrofits and Environmental Upgrades in the Bangladeshi RMG Sector (SREUP)” on 3rd August, 2022 at the Hotel InterContinental, Dhaka where representatives from the lead partner of the project French Development Agency (AFD), the European Union (EU), KfW, potential beneficiaries from RMG sector, PFIs, BGMEA and RMG Sustainability Council (RSC) were present.

This project has been designed to strengthen the sustainability of RMG sector through the credit facility of 50 million euro provided by AFD and 10.29 million euro grant from EU and KfW. Bangladesh Bank on behalf of Bangladesh government is also providing 0.99 million euro as credit. The project is being implemented by Bangladesh Bank aims to provide soft loans to the RMGs though the PFIs for safety retrofitting and environmental and social up gradation of the factories.

The program was inaugurated with the speech of Executive Director of Bangladesh Bank Mr. Md. Obaidul Hoque followed by the remarks from the Head of Co-operation of EU Mr. Maurizio Cian, an address from the Country Director of AFD Mr. Benoit Chassatte, Joint Secretary of FID from the Ministry of Finance Mr. Kamrul Haque Maruf, Valuable remarks were delivered by the Chief Guest of the program

Deputy Governor of Bangladesh Bank Mr. Abu Farah Md. Nasser and the Project Director of SREUP and Dirctor (SREUP) Mr. Moni Shankar Kundu provided the Vote of Thanks. Deputy Governor in his remarks mentioned the benefits of lower interest rate and investment facility regarding SREUP and inspired the RMGs to avail the facility to be sustainable.