As part of green financing, BRAC Bank will provide composite working capital facility of Tk 780 million to Envoy Textiles for implementing ETP expansion project of the company.

The financing facility includes offshore financing of $3.5 million.

BRAC Bank Limited and Envoy Textiles Limited signed banking financing agreement at a function at the head office of Envoy Textiles in Dhaka recently.

Syed Mahbubur Rahman, Managing Director and CEO of BRAC Bank, and Kutubuddin Ahmed, Chairman of Envoy

Group, signed the agreement on behalf of

the respective organizations.

Mohammad Mamdudur Rashid, Deputy Managing Director, Mahmoodun Nabi Chowdhury, Head of Corporate Banking Division, BRAC Bank, along with other senior officials from both the organizations were present at the ceremony.

In line with green banking guideline of the Bangladesh Bank, BRAC Bank finances in ETP, biogas, renewable energy including solar power, bank sources said.

News:Daily Sun/15-Feb-2014