International News

Germany to give €7m grant to Bangladesh garment sector


June 9, 2017

The government of Germany will provide €7 million to Bangladesh to help with the remediation work of the country’s readymade garment sector. As per an agreement signed between German Embassy in Bangladesh and the Economic Relations Division, the grants will help enhance the capacity of some of the commercial banks to address the funding needs of the sector. The funding is expected to ensure effective usage of credit, improve environment standards and promote safety of workers in the RMG sector. The project will help in bridging the knowledge gap in investments and remediation upgrades as well as in the implementation of the investments, added the embassy.