IFC invests $11b in Asia-Pacific projects in FY’23

IFC, the largest global development institution, funded a record US$11 billion for a total of 108 projects in Asia and the Pacific in fiscal year (FY) 2022-23, registering a 10 per cent year-on-year increase. The amount comprised $4.7 billion in long-term financing from its own account, $3.4 billion in mobilization, and $2.9 billion in short-term trade and supply-chain finance to facilitate trade flows, said a press release issued on Wednesday. In Bangladesh, IFC invested in projects to improve food security in the region, including an investment to promote a resilient rice market. This is IFC’s first investment from its new Global Food Security Platform, a $6 billion global facility set up to counter the food crisis. IFC projects in the last financial year are expected to improve the livelihoods of over 130,000 farmers in the region, with specific targets for women farmers. A record $4.7 billion was committed to financial institutions in the region, which are expected to improve access to finance for MSMEs through the provision of more than 1.6 million loans, with specific targets for women-owned businesses.

Source: https://today.thefinancialexpress.com.bd/trade-market/ifc-invests-11b-in-asia-pacific-projects-in-fy23-1693417416

73 garment factories receive RSC’s compliance certificate

Some 73 Bangladeshi garment factories today received recognition from the RMG Sustainability Council (RSC) as compliant and safe production facilities. The factories have been provided with the Letters of Recognition (LoRs) after correcting the non-compliance faults identified during the initial inspections of the council formed by the buyers to monitor workplace safety in RMG establishments. Currently, the RSC is covering 1,913 factories, out of which 534 factories have completed all the initial safety findings and 73 factories from the list received their LoR certificates. The international fashion brands are now very much aware of where they source from, and they always prioritise the suppliers that ensure safe workplaces for the workers. Achieving the LoR indicates that the factory management has reached an important milestone in the journey towards ensuring safety which in turn makes the business more sustainable

Source: https://www.thedailystar.net/business/news/73-garment-factories-receive-rscs-compliance-certificate-3406996

 Dhaka Bank signs deal with Ship International Hospital

Dhaka Bank Limited has recently signed a corporate medical services agreement with Ship International Hospital at the hospital’s corporate office to provide convenient and affordable healthcare services to Dhaka Bank employees and Dhaka Bank Card Holders. Under the agreement, Dhaka Bank employees and their dependents, cardholders will get discount facilities in various categories of services at the hospital. HM Mostafizur Rahaman, Executive Vice President & Head of Retail Business Division of Dhaka Bank, and FutoshiKono, Director of Ship International Hospital, signed and exchanged the copy of the agreement.

Source: https://today.thefinancialexpress.com.bd/trade-market/dhaka-bank-signs-deal-with-ship-intl-hospital-1693417550