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The Asian Development Bank gave Envoy Textiles a $30 million sustainability-linked loan to expand energy-efficient production in Bangladesh.
The Asian Development Bank has signed a $30 million sustainability-linked loan with Envoy Textiles in Bangladesh, its first such loan in the country.
The funding will support a new energy-efficient spinning unit, 3.5 MWp of rooftop solar panels, and refinancing of short-term loans.
The loan is tied to environmental performance targets, including increased solar energy use and reduced emissions.
Envoy, a leading denim manufacturer with a platinum LEED-certified facility, will boost yarn production by 4,550 tons annually.
The project supports sustainability and modernization in Bangladesh’s vital garment sector, which accounts for over 80% of exports.
El Banco Asiático de Desarrollo le dio a Envoy Textiles un préstamo de 30 millones de dólares vinculado a la sostenibilidad para expandir la producción eficiente de energía en Bangladesh.