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BRAC Bank launches energy efficiency credit scheme

BRAC Bank has launched energy efficiency financing loan to assist readymade garments (RMG) and textile industries to invest in energy efficiency technology.

The credit programme named "Planet Solutions", is the first of its kind Bangladesh and is targeted to the readymade garment and textile industries to encourage them to invest in energy efficiency technology, said a bank`s press release.

The technology service provider companies providing energy efficiency solutions will also get loan under the scheme, the bank said.

Bangladesh Bank (BB) Deputy Governor SK Sur Chowdhury launched the credit scheme at a programme on Sunday, held at a city hotel where managing director and chief executive officer of BRAC Bank Selim RF Hussain and country manager of International Finance Corporation (IFC) Wendy Werner were present, among others.

Selim RF Hussain said under the scheme, entrepreneurs and the technology service providing companies would be able to avail loan with flexible loan tenors based on payback period within minimum processing time. This product would be an unsecured financing with an interest rate of 6 per annum.

 

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