Germany to provide 7m euro for RMG sector

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MNA Business Desk: Germany will provide seven million euro as grant aimed at enabling an effective utilization of credit, promote workers’ safety and improve environmental standards in the country’s Ready Made Garments (RMG) factories, reported news agency.

The amount would be given through Germany’s KfW and GIZ under the project “Financing of Environment and Safety Retrofits in the Bangladesh Ready Made Garments (RMG) sector”.

Two separate agreements –Financial Cooperation (FC) and Technical Cooperation (TC) –were signed today in this regard, a German embassy statement said here.

Additional Secretary (Europe Wing) of the Ministry of Finance Muhammad Alkama Siddique and German Ambassador to Bangladesh Dr Thomas Prinz signed the agreements on behalf of their respective sides.