Faruque Hassan, President, BGMEA and Bob Assenberg, Director, GFF Fund have signed an MoU to finance sustainable practices and technologies in Bangladesh’s textile and clothing industries. Both will support and strengthen the development and uptake of innovative sustainability solutions and particularly improve environmental and social sustainability within Bangladesh factories.

Good Fashion Fund will provide long term loans in addition to technical and environmental and social expertise to the manufacturers to adopt sustainable production. Good Fashion Fund launched in 2019 is initiated by Laudes Foundation and Fashion for Good and managed by Fund Manager Fount

Through these joint efforts, GFF aims to invest up to $10 million in textile manufacturing companies in Bangladesh in the next two years and up to $25 million at the target fund size, naturally subject to the availability of funds. The collaboration aims to provide manufacturers access to finance and help them in building a restorative and regenerative apparel supply chain. This means the use of recyclable and safe materials, clean and less energy, closed-loop manufacturing and the creation of fair jobs and growth.