BGMEA signs MoU with GFF to promote green finance

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) will collaborate with Good Fashion Fund to promote low-cost green finance in readymade garment sector of the country.

BGMEA leaders headed by President Faruque Hassan held a meeting with Bob Assenberg, fund director of Good Fashion Fund (GFF) and Bernadette Blom, director of GFF in Antwerp of Belgium on Thursday in this regard.

BGMEA Vice-President Miran Ali, Director Abdullah Hil Rakib and Shams Mahmud, managing director of Shasha Denims Ltd were also present at the meeting.

The GFF is looking to provide soft financing options to Bangladeshi entrepreneurs who want to invest in green technology.

Recently, BGMEA and the GFF have signed a Memorandum of Understanding (MoU) to support uptake of innovative sustainability solutions within factories in Bangladesh.

As per agreement, Good Fashion Fund will provide long-term loan in addition to technical and environmental and social expertise to the manufacturers to adopt sustainable production.