BGMEA optimistic about continued support for International Finance Corporation
Faruque Hassan, President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) expressed optimism for continued collaboration between the RMG sector in Bangladesh and the International Finance Corporation (IFC), a member of the the World Bank, for the development of the sector.
The BGMEA chief also thanked IFC for its continued support to the RMG industry over the past decades, especially the “Partnership for Cleaner Textiles: PaCT” program when PaCT program manager Nishat Chowdhury visited him at the elder’s office in Dhaka yesterday.
BGMEA Vice President Shahidullah Azim, Directors Asif Ashraf, Advocate Vidiya Amrit Khan and Nishat Nahrin Hamid, Consultant – Resource Efficiency, Bangladesh PaCT were also present at the meeting, a press release read.
They had discussions on the activities and the progress of the ongoing projects which are being implemented by the BGMEA with the financial support of the IFC for the development of the RMG industry.
They expressed great optimism for continued collaboration to support the Bangladesh RMG industry in the areas of sustainability and capacity building to enable the sector to meet future challenges and realize untapped opportunities. added the press release.
They also discussed how IFC could support the Center for Innovation, Efficiency and OHS created by BGMEA to develop industry capacity and improve its competitiveness in the global market.
The “Partnership for Cleaner Textile: PaCT” program helps participating factories reduce their carbon and water footprint.
IFC has already funded several studies for the RMG sector to explore its opportunities and ways to realize them.
One of the studies aims to identify the potential reach of non-cotton textiles and apparel for Bangladesh in the global apparel market and formulate a strategy to develop the country’s overall competitiveness and strength in this area.
Another study is underway on the recovery roadmap of the RMG sector.