Dhaka, Bangladesh (BBN)-The central bank of Bangladesh has decided to launch a BDT 1.0 billion refinancing scheme soon for the infrastructural development of weak readymade garment (RMG) factories.
“The scheme will also help to improve working conditions with financial support from Japan International Cooperation Agency (JICA),”a senior official of the Bangladesh Bank (BB), the country’s central bank, told BBN in Dhaka.
He also said the aim of the scheme is to help weak RMG factories improve their infrastructural and working conditions in line with the buyers’ requirements.
The official also said there will be more similar schemes with combined efforts of the BB, JICA, Bangladesh Garment manufacturers and Exporters Association (BGMEA), Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) and financial institutions.
Bangladesh is now facing a serious pressure from the US and the European Union (EU) for improving infrastructures and working conditions in the RMG industry after the Savar tragedy.
More than 1,100 workers were killed when a building housing several factories collapsed last month in Savar just outside the capital, highlighting the poor safety record of the world's second-biggest garment exporter after China.
BBN/SSR/AD-31May13-8:31 pm (BST)
