Bangladesh Bank has inked participation agreements with 25 banks and 10 non-bank financial institutions (NBFIs) to disburse a Japan International Cooperation Agency (JICA) fund amounting to BDT 268 crore for remediation work of garment factories in the country.
Fazle Kabir, Governor, Bangladesh Bank said, “JICA will help the country’s garment sector adopt improved safety measures. It will help improve working conditions and play an important role in assisting the Bangladesh apparel industry to achieve its target of earning US $ 50 billion in exports by 2021.”
Also Read – Improved compliance can boost Bangladesh’s RMG exports: Study
The maximum amount that a factory owner can get from the fund is BDT 35 crore. The loan can be availed by the clients at 6 per cent rate of interest and its repayment tenure will be either 10 or 15 years. The apparel manufacturers in the country will also get a grace period of up to three years for repaying the loan.
Bharat Tex Special Report 2026 
