In order to improve the quality of life of garment workers as well as the sector’s image, Bangladeshi garment exporters will now be granted funds at only 2 per cent rate of interest to establish hostels for workers. The agreement signed yesterday between Bangladesh Bank and BGMEA states that 60 per cent of the funds will be provided by Bangladesh Bank for hostels that will be constructed on lands owned by the factory owners. The rest of the cost will be borne by the factory owners. Even though there have been wage hikes in the past, the acute problem of housing continues to loom over the workforce as the cost of living has gone up in the same proportion. The agreement if implemented will improve the living conditions of over 40 million garment industry workers.
