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Dipa Sultana, Senior Business Consultant at LightCastle Partners, participated as a panelist at the ‘Transforming Textile for Tomorrow’ session during the ten-year celebration of the Partnership for Cleaner Textile (PaCT) program. The PaCT program is led by the International Finance Corporation (IFC), implemented jointly with the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), and funded by the Government of Denmark and the Kingdom of the Netherlands.
The panel discussion centered on implementing effective policy reforms and enhancing knowledge management to prepare Bangladesh for export and bolster SME businesses. During the discussion, Dipa emphasized the significance of policy restructuring, stating, “It is crucial for Bangladesh to prioritize necessary policy reforms to establish a virtual marketplace connecting Bangladeshi apparel manufacturers with the global market.”
The session was moderated by Adiba Mehnaz Ahmed, Operations Officer at IFC, and included Ms. Vidiya Amrit Khan, Director of Desh Garments Ltd., Ms. Ferdous Ara Begum, CEO of Business Initiative Leading Development (BUILD), and Mr. Tanvir Al Fazal, Coordinator at Textile Technology Business Center (TTBC) as panelists alongside Dipa Sultana.
The sustainability efforts celebrated at the ten-year mark of the Partnership for Cleaner Textile (PaCT) program emphasize the ongoing push for eco-friendly practices in Bangladesh’s textile sector. Led by the IFC and supported by partners like the BGMEA, these initiatives have been crucial in promoting sustainability within the ready-made garment (RMG) industry. Recent developments include the IFC’s launch of the Global Trade Finance (GTF) initiative, investing around $200 million to encourage the use of eco-friendly textile machinery.
Henri Rachid Sfeir, Manager of MAS Asia Upstream & Advisory at IFC, offered his expert insights on the future of the textile industry, stating, “In our textile sector engagement, we prioritize initiatives like PaCT, recognizing sustainability’s key role in economic growth. As Bangladesh advances to middle-income status, leveraging economic complexity becomes crucial for sustainable development. The industry’s global ties and diverse operations underscore its importance in driving innovation and job creation, powering the country’s economy.”
Over the past ten years, the PaCT program has driven significant improvements in cleaner production practices within Bangladesh’s textile sector. By focusing on resource efficiency, waste reduction, and sustainable energy use, the program has helped many factories reduce their environmental impact while remaining economically viable.
Through initiatives like the GTF program and a focus on renewable energy, significant strides have been made towards a greener and more competitive industry. Continued collaboration between stakeholders, including the government, private sector, and international organizations, will be vital for further advancing this initiative and ensuring the textile sector’s long-term success.
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