International Finance Corporation (IFC) has invested $22.7 million in Hamza Textiles (HTL), a dyeing and finishing company of Dulal Brothers (DBL) Group to improve global competitiveness of Bangladesh’s readymade garments (RMG) sector. The financing will help the firm build a new factory with advanced and resource-efficient technologies. The new factory will create more than 900 direct jobs.
The new investment includes financing from the International Development Association’s Private Sector Window (IDA-PSW), set up to catalyse investment in low-income and fragile countries.
The expanded operation is also expected to contribute $8 million to Bangladesh's economy directly and indirectly through local supply chains by 2028, $15 million in expected economic activities generated by the additional income of employees, and boost opportunities for micro, small, and medium enterprises along the supply chain.
IFC’s investment will help expand HTL’s finishing capacity by 80 tonne per day to reach a total capacity of 103 tonne per day at its new factory, which will also be a Leadership in Energy and Environmental Design (LEED)-certified green building.
