JICA to help repair risky RMG units

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The Japan International Cooperation Agency (JICA) will provide Tk 1.0 billion (100 crore) in loan for repairing risky buildings of readymade garment (RMG) factories to minimise accidents like Rana Plaza collapse, reports BSS. Bangladesh Bank (BB), Public Works Department, JICA, Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) will sign a memorandum of understanding (MoU) in this connection today (Thursday). After the signing of the MoU, the central bank will publish a circular for the commercial banks informing them about the fund and its utilisation, said BB's SME and Special Programmes Department General Manager Sukamal Sinha Choudhury. "Only the owners of risky buildings will get the loan facility . . . the highest Tk 100 million will be given to an owner,", he added. The loan will be allocated on the basis of the inspection reports of the JICA representatives and on first come, first served basis.