Bangladesh Bank sets up green fund for textiles

A fund worth $200 million will provide low-cost loans to textile and leather industries to make their production process more eco-friendly.

Speaking at a conference on 'Green Finance for Sustainable Development', Bangladesh Bank governor Atiur Rahman said, “We want to let the world know that we will manufacture green apparel and green leather products. We want to brand our country as green Bangladesh.”

Textile and apparel industries are expected to get loans for waste management, water conservation and management, recycling, water efficiency in wet processing, energy efficiency, and renewable energy.

Earlier in April last year, Rahman had announced the central bank's plans to set up a low-cost green fund for textile factories to adopt eco-friendly technologies and practices and had said the fund's timing was critical as the global demand for environmental-friendly goods continues to rise. (HO)

ALCHEMPro News Desk – India