BRAC Bank launches loan for water and energy efficiency in textiles industry

Staff Correspondent
Guests speak at a workshop on financing water and energy efficiency at The Westin in the capital on Sunday. — New Age photo

Guests speak at a workshop on financing water and energy efficiency at The Westin in the capital on Sunday. — New Age photo

Financing opportunities in water and energy efficiency in textiles is imperative for the country to reach the strategic target of $50 billion in RMG export by 2021, speakers said at a workshop held in the city on Sunday.
‘With the rising cost of energy and water use, the growth trajectory of Bangladesh textile industry can only be sustained by investing in water and energy efficiency improvement in factories and nearby communities,’ International Finance Corporation Bangladesh country manager Wendy Werner said at the workshop organised by the Partnership for Cleaner Textile (PaCT), according to a press release.
At the event, BRAC Bank Ltd., a PaCT partner bank, launched a customised and user-friendly water and energy efficiency loan product for the textile industry—the very first of its kind in the country.
BRAC Bank Ltd managing director and CEO Selim RF Hussain said IFC’s customised and tailor-made support for BRAC Bank, complemented with their global knowledge and expertise, helped the bank structure, plan and launch the ‘Planet Solutions’, the first energy efficiency loan product in Bangladesh.
Bangladesh Bank, BGMEA, IDLC, SREDA and IFC officials were present at the programme.

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