By providing over 1,000 jobs for less trained employees in Bangladesh’s textile and ready-made garment (RMG) industries, the creation of Jinnat Textile would aid in the country’s economic development. The financing from BII will support better working conditions and benefits like paid maternity benefits, nursery facilities, and “low duty” work options when pregnant. Women will make up more than 50% of the new workforce.
The 2X Challenge is applicable to BII’s loan to DBL Group since it will promote women’s economic involvement and raise the standard of employment for women. The G7’s development finance institutions (DFIs) launched the 2X Challenge as a way to raise money for greater economic empowerment of women in developing nations.
Group DBL is praised for its significant contribution to Bangladesh’s economy’s sustainable growth. The Bangladesh Economic Zones Authority (BEZA) has granted it 167 acres of land in the Shreehatta Economic Zone, Moulvibazar, Sylhet, to develop and establish new industries. The new Jinnat Textile production facility will be situated in Sylhet, Bangladesh’s Shreehatta Economic Zone’s DBL Industrial Park.
“I am pleased that British International Investment’s partnership with DBL Group will increase job creation and business growth, while also setting new industry standards for improved working conditions for women and encouraging companies to be more environmentally friendly,” said Robert Chatterton Dickson, the British High Commissioner to Bangladesh. The UK is dedicated to promoting investments that strengthen the private sector in order to support Bangladesh’s development goals. and promote nationwide transformational, sustainable economic development.