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PaCT is playing a leading role in supporting banks and other financial institutions to develop innovative financing models to meet the finance gap and promote investment in resource efficiency projects in the textile sector. PaCT recently signed a cooperation agreement with BRAC Bank Limited (BBL) to support the development of an Energy Efficiency Financing (EEF) loan product for the textile sector. In conjunction, PaCT hosted a half-day training for BBL at IFC’s Dhaka office. The training was attended by 30 participants, including representatives from BBL’s credit undertaking and corporate sales divisions.

Alongside technical and advisory support, PaCT is working to formalize partnerships among FIs, factories, and technology service providers to catalyze business developments in resource efficiency projects. PaCT organized a day-long workshop titled ‘Water & Energy Efficiency Financing’ on 28 February, coinciding with the launching ceremony of ‘Planet Solutions’, BBL’s first EEF loan product geared towards the RMG and textile sectors. Mr Selim R. F. Hussain, Managing Director and CEO of BBL noted, “IFC’s customized support for BRAC Bank, complemented by their global knowledge and expertise has helped us structure, plan and launch the very first Energy Efficiency Loan product in Bangladesh.” Spokespersons from Bangladesh Bank, BGMEA, IDLC, SREDA and IFC’s regional office were among the other speakers at the event. Program sponsors Aamra, Forbes Marshall, and Megatek Engineering Pte Ltd., the leading technical service providers in the country, also presented at the workshop. The workshop, attended by 200 participants from diverse sectors, was a platform for FIs to explore REF opportunities and network with PaCT partner factories which have already completed assessments and are keen on resource efficiency upgrades.