BSS, Dhaka :
IFC, a member of the World Bank Group, brought together around 40 development partners, global apparel brands, industry representatives and financial intermediaries for a virtual dialogue to assess the reconstruction of Bangladesh’s readymade garments sector in the aftermath of the COVID-19 pandemic.
The textile sector contributes one-fifth of the country’s GDP and more than four-fifths of its export earnings, while directly employing more than 4.5 million people, mostly women.
However, the industry is facing significant challenges from the worldwide COVID-19 pandemic, said an IFC press release on Thursday.
The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) have advised all garment factories to remain closed until April 25. According to BGMEA, as of April 22, almost $3.2 billion of orders had been canceled or suspended, affecting over 2.3 million workers of 1,144 factories.
“COVID-19 has impacted our industry and our workers. As we move forward, we must work together to overcome this crisis,” said Rubana Huq, President of BGMEA.
“Only when we stand together, can we rise and shape tomorrow for the better,” she added.
IFC aims to help tackle these challenges by bringing partners together to discuss the immediate challenges as well as build on opportunities in the post-COVID recovery stage.
IFC, a member of the World Bank Group, brought together around 40 development partners, global apparel brands, industry representatives and financial intermediaries for a virtual dialogue to assess the reconstruction of Bangladesh’s readymade garments sector in the aftermath of the COVID-19 pandemic.
The textile sector contributes one-fifth of the country’s GDP and more than four-fifths of its export earnings, while directly employing more than 4.5 million people, mostly women.
However, the industry is facing significant challenges from the worldwide COVID-19 pandemic, said an IFC press release on Thursday.
The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) have advised all garment factories to remain closed until April 25. According to BGMEA, as of April 22, almost $3.2 billion of orders had been canceled or suspended, affecting over 2.3 million workers of 1,144 factories.
“COVID-19 has impacted our industry and our workers. As we move forward, we must work together to overcome this crisis,” said Rubana Huq, President of BGMEA.
“Only when we stand together, can we rise and shape tomorrow for the better,” she added.
IFC aims to help tackle these challenges by bringing partners together to discuss the immediate challenges as well as build on opportunities in the post-COVID recovery stage.
