SREUP will help the Bangladesh Ready-made garment sector factories to implement safety retrofits, environmental and social upgradation measures. The program aims to help maintain the global competitiveness of the Bangladesh garment industry by making it economically sustainable. The program incentivizes factories with low cost loans through financial institutions and incentive grants. The program is a result of collaboration several international donors to provide financial and capacity building support.
Key facts at a glance
International Development Partners
| International Development Partners | French Development Agency (AFD) |
| Implementing Agency | Bangladesh Bank |
| Loans Provided Through | Selected Participating Financial Institutions with a cap in the interest rate @ 7% per annum |
| Incentive Grant | Provided on successful completion of project:
|
| Loan Terms | Maximum size equivalent to Bangladesh Taka of Euro 1 million. On a case by case basis can be increased to the equivalent of Euro 3 million. Typical tenure of loans to be 3-5 years. On a case by case basis, the tenure can be extended to 7 years. |
| Total Financial Outlay | 64.29 million Euros |
For additional information please read the Bangladesh Bank Circular dated March 31, 2019