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ADB signs $50 million loan with Modern Syntex for polyester chips
Original: ADB, Modern Syntex sign $50m loan to expand energy-efficient polyester chips production
The Asian Development Bank and Bangladesh's Modern Syntex have signed a $50 million loan agreement to expand the production of energy-efficient polyester chips. The financing is intended to support capacity growth at the company's synthetic fibre operations while promoting more energy-efficient manufacturing. The deal highlights continued development-bank backing for industrial energy efficiency projects in Bangladesh.
Why now: The signing of a sizable concessional loan for industrial energy efficiency in Bangladesh is new financial news drawing attention.
Asian Development BankModern SyntexBangladesh
Evidence
- ADB, Modern Syntex sign $50m loan to expand energy-efficient polyester chips production · New Age BD
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