Provide funds for apparel SMEs

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has requested Proparco, the financial wing of the French Development Agency, to finance small and medium enterprises (SMEs) in the garment sector in integrating environmental sustainable practices.

The call was made on February 18 when BGMEA President Faruque Hassan held a meeting with Proparco officials in Paris, according to a statement.

During the meeting, the sustainable development of Bangladesh's RMG industry was discussed.

The Proparco delegation led by Reza Hassam Daya, deputy head, manufacturing, included Nahema Lemarchand, Jean-Emile Loubet and Théodore Planes.

Both the parties had discussions about the status quo of Bangladesh's apparel industry, its vision, challenges and potential.

In the meeting, BGMEA President Faruque Hassan apprised the Proparco team of the progress made by Bangladesh's RMG industry in the areas of workplace safety, social and environmental sustainability and workers' wellbeing.

He also mentioned the Sustainable Strategic Vision-2030 that aims to accelerate the growth of the RMG industry in a sustainable manner so it has positive impacts on the economy, the environment and the lives of people.

He said Bangladeshi garment factories are making huge investments to make their production process cleaner and more energy efficient.

However, small and medium factories are in need of low-cost funding to integrate environmental sustainability practices, Mr Hassan said.

The BGMEA leader urged Proparco to provide SMEs with low-cost funds and grants as they often cannot avail regular financing schemes due to stringent due diligence.

[email protected]