The Asian Development Bank has signed a $30 million sustainability-linked loan with Envoy Textiles Limited in Bangladesh to enhance production capacity and promote environmental sustainability in the textile industry.

Information on the Target

Envoy Textiles Limited is a prominent denim fabric manufacturer in Bangladesh, recognized for its significant contribution to the nation’s textile industry. With an annual production capacity of 54 million yards, Envoy accounts for approximately 10% of Bangladesh's total denim fabric output. The company is distinguished by its commitment to sustainability, holding the title of the world’s first platinum Leadership in Energy and Environmental Design (LEED) certified denim manufacturing facility, awarded by the United States Green Building Council. This underscores Envoy's dedication to modern manufacturing practices that prioritize environmental responsibility.

Industry Overview in Bangladesh

The garment industry in Bangladesh plays a pivotal role in the country’s economy, being the primary driver of growth and development. It constitutes over 80% of the nation's total export earnings, showcasing its critical importance in the global textile market. With a focus on ready-made garments, the sector has attracted substantial foreign investment and provides millions of jobs to the local workforce.

In recent years, there has been a growing emphasis on sustainable practices within the industry, propelled by international demands for eco-friendly products. A