Program to support safety retrofits and environmental upgrades in the Bangladeshi RMG sector

With the objective to support an enabling situation where the financial institutions and RMG factories actively use the developed information and capacity building support structures in the areas of safety remediation and environmental and social upgrades. We have conducted 3 webinars profiling more than 75 RMG factories wanting to make an investment in environmental upgrades and brief them on features and use of “Support safety retrofits and environmental upgrades in the Bangladeshi Ready-Made Garment Sector SSREUP” credit line. This is expected to increase the demand for safety, environmental, and social upgrades in the RMG sector, and strengthen the capacities of financial institutions to finance these investments in the RMG sector.

The GIZ technical cooperation measure is complementary to financial assistance (FA) of up to 50 million EUR provided by the Agence Française de Développement (AFD) in combination with a grant of up to 6.3 million EUR by the European Union (EU) and of up to 4 million EUR by the KfW. The Financing facility is designated to refinance RMG factories’ investments related to safety remediation and upgrading of environmental standards.