BGMEA seeks French dev assistance for SMEs

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has urged Proparco, a subsidiary of the French AFD Group focused on private sector development, to provide low-cost funds to small Bangladeshi enterprises.  

Small-scale firms struggle to secure financing from the usual sources for failing to fulfil some mandatory conditions which sometimes require going through tedious processes and bureaucratic tangles, it said.

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BGMEA President Faruque Hassan made the call in a meeting with a delegation of Proparco in Paris on February 18 to discuss possible collaboration to support the sustainable development of Bangladesh's garment industry.

The BGMEA president apprised the Proparco team of the progress made by Bangladesh's garment industry in areas of workplace safety, social and environmental sustainability and workers' wellbeing.

The Proparco delegation was led by Reza Hassam Daya, deputy head of manufacturing, along with Nahema Lemarchand, Jean-Emile Loubet and Théodore Planes. They discussed Bangladesh's apparel industry, its vision, challenges and potential.

Hassan also spoke of a Sustainable Strategic Vision-2030 that aims to accelerate the growth of the garment industry in a sustainable manner so it has positive impacts on the economy, the environment and the lives of people.

He said Bangladeshi garment factories were investing a lot of money to make their production process cleaner and more energy efficient.

However, small and medium enterprises are in need of low-cost funding to integrate environmental sustainability practices, he said.