US $ 10m Export Readiness Fund launched, leather sector to benefit from it

by Apparel Resources News-Desk

06-January-2020  |  1 min read

Bangladesh Leather Sector
Image Courtesy: aclechina.com

Bangladesh recently announced the launching of US $ 10 million fund for 4 sectors including leather & leather goods and footwear to be distributed with the help of the World Bank over a period of 3 years, according to media reports.

Commerce Secretary Md. Jafar Uddin inaugurated the Export Readiness Fund at a hotel in capital Dhaka on Sunday.

The application process in the first category, or ‘Window 1’, started along with the inauguration of the programme. Companies willing to apply for the fund in ‘Window 2’ and ‘Window 3’ will be able to start the process in March.

All organisations having trade licences, or business companies or their partners can apply for the funds.

The Government – with the aim to directly assist firms in the four sectors, namely leather and leather goods, footwear, plastics and light-engineering – will distribute the money in 3 categories, starting from a maximum of US $ 5,000 to 400 companies each.

As many as 200 other firms will get up to US $ 40,000 each while in the third category, 50 companies will get US $ 200,000 each.

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