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Viyellatex to get $14m

Albrecht Conze, German ambassador; Norbert Kloppenburg, member of German development finance institution DEG’s supervisory board; and David Hasanat, chairman of Viyellatex Group, attend the signing of a $14 million loan for Viyellatex to set up two carbon neutral green factories, at the Westin Dhaka on 4 November2013. Photo: Viyellatex

Albrecht Conze, German ambassador; Norbert Kloppenburg, member of German development finance institution DEG’s supervisory board; and David Hasanat, chairman of Viyellatex Group, attend the signing of a $14 million loan for Viyellatex to set up two carbon neutral green factories, at the Westin Dhaka on 4 November2013. Photo: Viyellatex

The German development finance insti-tution DEG—Deutsche Investitions- und Entwicklungsgesellschaft mbH—will provide a long-term loan of $14 million to Viyellatex to set up two carbon neutral green factories.
Viyellatex Group and DEG inked the loan agreement for the financing of Eco Couture & Eco Fab, business concerns of Viyellatex Group, at Westin Dhaka in the capital on 5 November 2013.
The project will create 4,500 direct jobs, Viyellatex, one of the largest garments exporters of Bangladesh, said in a statement.
Viyellatex is famous for its green and sustainable production initiatives, and it will build factories to comply with conditions for Gold certification from Leadership in Energy and Environmental Design by US Green Building Council.
DEG, a subsidiary of KfW Bankengruppe and one of the Europe’s largest development finance institutions, has been providing long-term financing to the private sector in developing and emerging countries for more than 50 years.
Albrecht Conze, German ambassador; Norbert Kloppenburg, member of the board of KfW and of DEG’s supervisory board; David Hasanat, chairman of Viyellatex Group; and Ahasan Kabir Khan, vice chairman, were also present.

 

http://www.thedailystar.net/beta2/news/viyellatex-to-get-14m-german-loan-for-green-factories/

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