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Related Keywords: Bangladesh Bank, BB, environment friendly infrastructures, export oriented textile industries, Export-oriented Textile and Textile Products, facilitate fund, long term financing, signed agreements, six private banks, transforming into green industries, water use efficiency in wet processing

Bangladesh Bank (BB) to provide long term financing amount of US$ 200 million for transforming the export oriented textile industries into green industries for which they have signed agreements with six private banks to facilitate fund.

The funds for long-term financing will be facilitated under the “Green Transformation Fund (GTF) for Export-oriented Textile and Textile Products and Leather Manufacturing Industries” to set up environment friendly infrastructures.

Related Keywords: Bangladesh Bank, Bangladesh Specialised Textile Mills and Powerloom Industries Association, Bangladesh textile and powerloom industry, BSTMPIA, eighty percent use traditional powerloom, needs low-cost fund to set up modern machinery, producing high quality export oriented products, set up textile village, twenty percent modernized

Bangladesh, currently has around 30,000 to 40,000 textile mills, of which 20% to 30% are modernized and producing high quality export-oriented products while the rest 80% use traditional power-loom to produce saree, lungi, poplin, napkin, long clothes, shirting and suiting, said Azizul Haque, President of Bangladesh Specialised Textile Mills and Powerloom Industries Association (BSTMPIA).

Related Keywords: Bangladesh Bank, BDJPMEA, big jute goods producers to grab who own mills, diversified jute products, enterprises will have to get certification, exportable products to be eligible, from BJMA and BJSA, jute manufacturers to use minimum percent of jute, receive ten percent cash benefit, recent circular on payment fo cash subsidty

The Bangladesh Bank’s recent circular for payment of cash subsidty on diversified jute products states that enterprises which will be able to get a certification from the Bangladesh Jute Mills Association (BJMA) and the Bangladesh Jute Spinners Association (BJSA), will receive the 10 percent cash benefit.

Related Keywords: adopt eco friendly technologies and practices, Bangladesh Bank, central bank to set low cost funds, Export development fund, finance and environmental sustainability, Governor Atiur Rahman, Policy Research Institue, promote green financing, textile factories, textile sector

Policy Research Institute (PRI) of Bangladesh in Dhaka organised a seminar to discuss on "access to finance: environmental sustainability in the textile sector" in association with the International Finance Corporation yesterday wherein the Governor Atiur Rahman took a decision that the central bank will set aside $500 million of low-cost funds for textile factories to help them adopt eco-friendly technologies and practices.

Related Keywords: Bangaldesh private jute mills, Bangladesh Bank, BJMA, BJMC, financial assistance, fund constraint, government, jute goods, Ministry of Textiles and Jute, state owned jute mills

The Bangladeshi private jute millers are facing acute fund constraints due to decline in exports of jute goods. Under the Bangladesh Jute Mills Association, the mills have been demanding similar financial assistance from the government that is being given to the state-owned jute mills
to run their mills.

The Ministry for Textile and Jute recently urged the central bank to instruct the scheduled banks to implement the decision of the ministry's advisory committee on jute to give private mills equal facilities which the BJMC mills are now enjoying.

Related Keywords: Bangladesh Bank, Bangladesh jute industry, block account, commercial banks, exporters, Extended Development Fund, jute millers, Ministry of Textile and Jute, refinance

The Ministry of Textiles and Jute at a number of meetings highlighted the urgency for refinancing the jute millers and urged the Bangladesh Bank to introduce the block account facilities to the millers to keep the sector stable.

Bangladesh Bank (BB) to help private jute millers and exporter overcome the acute liquidity crisis which put most of mills in dreadful straits has directed the commercial banks to provide "Block Account" loan facilities.