Envoy Textiles hosts ADB delegation following approval of USD 30m sustainability financing package

Envoy Textiles Limited today, Monday hosted a high-level courtesy meeting with a delegation from the Asian Development Bank (ADB) at its Corporate Office in Panthpath, Dhaka.

The meeting was convened following the recent approval of a USD 30 million financing package from ADB to support the company's expansion and sustainability initiatives, reports a press release.

The ADB delegation was led by Hoe Yun Jeong, country director, Bangladesh Resident Mission. He was accompanied by Md Mehedi Hasan, investment officer, and Farzana Rahman, officer of the finance, Private Sector and Public Sector Management and Governance Group (PSMG).

Envoy Textiles was represented at the meeting by its Founder and Chairman Kutubuddin Ahmed, along with other high-ranking officials of the company.

The discussions centered on strengthening the collaborative partnership between ADB and Envoy Textiles.

The parties reviewed the strategic utilisation of the newly approved funds, which are earmarked for enhancing the company’s production capacity, adopting advanced green technologies and furthering its commitment to environmental, social and governance (ESG) standards.

Kutubuddin Ahmed, chairman of Envoy Textiles, expressed his gratitude stating, "We are honored to host the ADB delegation and deeply appreciate their confidence in our vision. This significant investment is a testament to our shared commitment to sustainable industrial growth in Bangladesh."

"The funding will be instrumental in driving our next phase of expansion, focusing on innovation and eco-friendly manufacturing practices that set a benchmark for the industry," he added.