Saturday, April 13, 2024
HomeNews & ViewsIndustry FocusNew Web Tool for RMG Sector in Bangladesh Developed by IFC

New Web Tool for RMG Sector in Bangladesh Developed by IFC

The International Finance Corporation (IFC) developed a web tool to help measure resource usage in the readymade garment industry in Bangladesh. PaCT (Partnership for Cleaner Textile) is a data-driven monitoring software that will provide real-time analytics for readymade garment factories, helping them in their efforts to improve use of resources like water and energy. Via initiatives such as the PaCT programme, IFC hopes that through the introduction of new ways and innovations with global trends, it will help boost competitiveness of the sector. IFC is a World Bank Group member.

Supported by Denmark, Australia, and the Netherlands, PaCT’s multi-stakeholder partnership has already helped the industry save 25 billion liters of water and 2.5 million megawatt hours of energy annually. Launched in 2018, PaCT works with 132 factories to adopt state-of-the-art efficiency and reduce water, energy, and chemical use to meet global standards.

Bangladesh is second-largest exporter of clothing in the world. More than 6% of world clothing exports come from Bangladesh. The European Union is Bangladesh’s biggest customer in the fashion industry. Yet it is expected that Bangladesh will limit its fashion exports to Europe. The Asian nation is predicted to join the list of least developed regions in 2024 in parallel.

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