The EU aspires to achieve economic growth and boost its competitiveness through the transition to green energy, environmental protection, and sustainable resource use without harming the environment, according to Charles Whiteley, the EU ambassador to Bangladesh.
“Together, we are laying the foundation for a safer, more sustainable, and globally competitive RMG sector in Bangladesh,” he said.
The ambassador emphasised the significance of the recently passed “Due Diligence Directive” and described how the EU Climate Law and the European Green Deal, which contain legally binding commitments to reduce net greenhouse gas emissions by at least 55 per cent by 2030 and achieve climate neutrality by 2050, serve as the foundation for EU policies, both internal and external.
The Bangladeshi RMG Sector Project (SREUP) has successfully concluded its stakeholder engagement programme and awarded grants and checks for safety retrofits and environmental enhancements. The announcement was made today, June 11, by the Bangladesh Bank.
The event gathered key stakeholders from the sector to exchange insights, share updates on the SREUP project advancements, distribute investment grants, and explore the future possibilities of sustainable finance in Bangladesh’s RMG sector.
Through financial institutions, the SREUP project provides low-cost loans and incentive grants.
According to the EU Embassy in Dhaka, the € 50 million credit facility (AFD and co-financed by € 14.29 million grant contribution from EU, KfW, GIZ, and the Government of Bangladesh being implemented by Bangladesh Bank) is intended to strengthen the environmental and economic sustainability of the RMG sector.
Dr. Md. Kabir Ahmed, Executive Director of Bangladesh Bank, opened the event by thanking Charles Whiteley, important stakeholders, and partners in Europe. He also underlined the importance of a safer, greener, and more resilient RMG industry and highlighted their shared commitment to its advancement.
Cécilia Cortese, Deputy Country Director-Bangladesh, Agence Française de Développement (AFD); Michael Sumser, Country Director, KfW Office Dhaka; and Nagaraj K, Country Head, TÜV SÜD Bangladesh (Pvt.) Ltd also graced the event with their presence and speeches.
