Policy Exchange Bangladesh and LightCastle Join Hands with the World Bank Group to Deep Dive into Greening the RMG Sector

LightCastle Editorial Wing
April 25, 2024
Policy Exchange Bangladesh and LightCastle Join Hands with the World Bank Group to Deep Dive into Greening the RMG Sector

Policy Exchange Bangladesh (PE) and LightCastle Partners are jointly conducting a Deep Dive into the ‘Greening the Ready-made Garment (RMG) Sector’ in Bangladesh for the World Bank Group. 

The Country Private Sector Diagnostics (CPSD) is a collaborative effort between the International Finance Corporation (IFC) and the World Bank to identify and address constraints hindering private sector growth and investment. It combines economy-wide and sector-specific analyses to guide policy dialogue and facilitate transformative private investments. The Bangladesh CPSD 2.0 is an update to the CPSD 1.0 report launched in 2021.

The Deep Dive will explore strategies to support the green transition of the RMG sector, including its textile subsector. By greening the RMG sector, WB  aims to make production processes more energy and resource-efficient. This transition can also open doors to new market segments, and create employment opportunities. 

The apparel industry, a significant contributor to the country’s export earnings, is already facing the aftermath of geopolitical tensions and the rise of automation. As consumer consciousness and regulatory pressures increase globally, sustainable and circular manufacturing methods are increasingly critical. 

LCP and PE’s Deep Dive into greening the RMG sector will offer valuable insights into the sector’s green transition, highlighting opportunities and challenges. Through rigorous data collection and analysis, the study will assess the impact of green initiatives on employment, income, and stakeholder satisfaction, providing a comprehensive view of the sector’s current landscape and future scope of investment.

The study seeks to understand the potential for increased private sector investments in greening the RMG sector, addressing infrastructure, knowledge gaps, and capacity needs to leverage its growth potential. Recommendations from this analysis will target both public and private investments and advocate for policy and institutional reforms.

WRITTEN BY: LightCastle Editorial Wing

For further clarifications, contact here: [email protected]

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