RFL Electronics Ltd (REL) has secured a $23.0 million credit facility from Britain's development finance institution to expand its capacity to manufacture electronic home appliances. REL, a unit of the PRAN-RFL group, hopes to increase its refrigerator manufacturing capacity and assembly line of small appliances such as rice cookers and blenders with the funds. “I am thrilled that we are deepening our partnership with the PRAN-RFL group through this loan. Ahsan Khan Chowdhury, CEO of PRAN-RFL Group, said the facility will help boost local manufacturing and cater to the increasing demand for electronics products among the fast-growing and urbanising middle-income segment of Bangladesh. Lauding the initiative, British High Commissioner to Bangladesh Robert Chatterton Dickson said the investment recognises PRAN-RFL’s efforts to increase women’s employment.
Source: bd News24 July 03, 2022 17:35 UTC