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BGMEA urges Proparco to provide SMEs with the low-cost fund, grant

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has urged the French Development Agency the financial wing Proparco to provide the small and medium enterprises (SMEs) of the country with the low-cost fund and grant as they often cannot avail of regular financing schemes due to stringent due diligence.

“Bangladeshi garment factories are making huge investments to make their production process cleaner and more energy efficient. However, the SMEs need low-cost funding to integrate environmental sustainability practices,” said BGMEA President Faruque Hassan.

A delegation of Proparco met with Faruque in Paris Saturday to discuss possible collaboration in supporting the sustainable development of Bangladesh’s RMG industry.

The Proparco delegation led by Reza Hassam Daya, deputy head of manufacturing, also included Nahema Lemarchand, Jean-Emile Loubet and Théodore Planes.

The two sides discussed the present status of Bangladesh’s apparel industry, its vision, challenges and potential.

Faruque informed the Proparco team about the progress made by Bangladesh’s RMG industry in the areas of workplace safety, social and environmental sustainability and workers’ wellbeing.

Chair of BGMEA Standing Committee on Press, Publication and Publicity Shovon Islam was also present at the meeting.