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Tk1bn BB scheme soon for improving factory conditions

  • Published at 06:12 am May 31st, 2013
Tk1bn BB scheme soon for improving factory conditions

Bangladesh Bank (BB) has decided to launch a Tk1bn refinancing scheme soon for the infrastructural development of weak RMG factories and improving working conditions with financial support from the Japan International Cooperation Agency (Jica).

“The decision has been finalised… The central bank and Jica agreed on it. The refinancing scheme of Tk1bn will soon be launched,” BB spokesman AFM Asaduzzaman told the UNB Friday.

He said there would be more similar schemes with combined efforts of the BB, Jica, Bangladesh Garment Manufacturers and Exporters Association, Bangladesh Knitwear Manufacturers and Exporters Association and financial institutions.

Bangladesh is under serious pressure from the US and the European Union for improving infrastructure and working conditions in the RMG industry after the Savar tragedy.