DBL Group has signed a USD 43 million long-term financing agreement with DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH, the German development finance institution. The facility marks the third financing partnership between DBL Group and DEG, extending a relationship that previously supported Color City Ltd. and Matin Spinning Mills Ltd.
The financing supports DBL Group’s acquisition of Glory Textiles & Apparels Ltd. (GTAL), a vertically integrated knitwear concern, and its expansion into a fully integrated, DBL-standard facility. Of the total, USD 16 million is co-financed through the Global Innovation Investment Fund (GIIF), established by DEG and Germany’s Federal Ministry for Economic Cooperation and Development (BMZ).
The investment is expected to create 2,150 new jobs; 35% of them held by women recruited from local communities, directly advancing UN Sustainable Development Goal 8: Decent Work and Economic Growth. DEG will also support GTAL’s decarbonisation plan through its Business Support Services.
The agreement reflects a continued commitment to sustainable growth, responsible manufacturing, and stronger local value chains across Bangladesh’s export-oriented industrial sector
