IPDC Finance honoured with prestigious award from Bangladesh Bank SREUP for green financing

In an event held at Hotel Pan Pacific Sonargaon, Dhaka, Bangladesh Bank recognised the outstanding contributions of financial organisations and RMGs for the successful completion of their respective environment-friendly initiatives under SREUP.

IPDC Finance Limited was jointly awarded a partner RMG corporation for the latter's establishment of a Biological Effluent Treatment Plant (ETP) with support from IPDC's financing under the SREUP scheme, said a press release.

This acknowledgement underscores the commitment of IPDC to financing environmentally friendly projects.

IPDC expressed its gratitude to SREUP, and Bangladesh Bank for their guidance.

SREUP, short for the "Program to Support Safety Retrofits and Environmental Upgrades in the Bangladeshi Ready-Made Garments (RMG) Sector Project," is an initiative by Bangladesh Bank (with support from AFD, EU, KfW, and GIZ) aimed at fortifying social & environmental sustainability of the RMG sector.

IPDC, as a responsible institution, strives to create awareness regarding green financing as well as low-cost support funds from Bangladesh Bank. In light of this, IPDC collaborated with the partner RMG organisation, Tarasima Apparels Limited, for the construction of the ETP and approached Bangladesh Bank SREUP for approval.

Following meticulous scrutiny of the project's feasibilities and other parameters, Bangladesh Bank approved the prefinance facility at low rate.

IPDC is thankful to the partner RMG organisation for choosing it as a financial partner.

Upon successful completion of the project by the partner RMG, Bangladesh Bank awarded IPDC Finance Limited and the partner RMG corporation a grant in recognition of their successful completion of the Biological ETP. From IPDC Finance, Rizwan Dawood Shams, Additional Managing Director; From Tarasima Apparels, Lt. Col. Hasan Mahmud (Retd.), Executive Director- HR, Admin & Compliance; Morshedul Hoque, Chief Financial Officer along with some other representatives from both the organizations were present in the event. Dr. Md. Kabir Ahmed, Executive Director, Bangladesh Bank presided as the chief guest of the ceremony. Furthermore, the event was adorned by the presence of other esteemed Bangladesh Bank officials including Moni Shankar Kundu, Director & Project Director (SREUP); Nawshad Mustafa, Additional Director & Deputy Project Director (SREUP) as well as representatives of AFD, KfW, EU, and many others.