BRAC Bank launches energy efficiency financing loan

Business Desk

BRAC Bank on Sunday launched ‘Planet Solutions’, Bangladesh’s first energy efficiency financing loan, to assist readymade garments and textile industries to invest in energy efficiency technology, said a press release.
The loan is targeted to the RMG and textile industry which will invest in energy efficiency technology and the technology service provider companies which provide energy efficiency solutions. This loan product will be an unsecured financing with an interest rate of 6 per cent per year.
Bangladesh Bank deputy governor SK Sur Chowdhury and BRAC Bank managing director and chief executive officer Selim RF Hussain inaugurated the loan product at a workshop on Water & Energy Efficiency Financing organised by International Finance Corporation at a hotel in Dhaka.
IFC Bangladesh country manager Wendy Werner and Sustainable and Renewable Energy Development Authority member (EE&C) Siddique Zobair were also present.
IFC is providing technical assistance to BRAC Bank in launching the product.

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