This funding will support EPIC Group's expansion in Bangladesh and the construction of a new manufacturing facility in India, a press release said here today. "Partnering with IFC is a significant step for EPIC Group in pursuit of a more sustainable and innovative textile manufacturing industry," said Ranjan Mahtani, Executive Chairman of the EPIC Group. The partnership between IFC and EPIC Group will support EPIC Group in reducing its environmental footprint significantly, targeting a 65 percent reduction in GHG emission per garment produced by 2030 compared to the 2019 benchmark. The investment announced today builds on IFC's existing relationship with EPIC Group. IFC previously supported EPIC Group with advisory services on greener production and decarbonization through the Global Trade Supplier Finance program.

Source: Bangladesh Sangbad Sangstha June 19, 2024 16:14 UTC