News

IFC and Partners to Establish Low Carbon Green Zone in Garment Factories in Bangladesh

6 August 2012: The International Finance Corporation (IFC) has partnered with the Bangladesh Export Processing Zone Authority and the Government of the Republic of Korea to establish a Low Carbon Green Zone in the Chittagong Export Processing area in Bangladesh.

The project aims to: incorporate green incentives into the country's policy framework; disseminate knowledge regarding industry-wide green practices; and establish an infrastructure that supports sustainable energy production and maximal resource efficiency.

According to IFC, the initiative will play a critical role in reducing greenhouse gas (GHG) emissions and ensuring a competitive advantage in the global market. To reach stated goals, the implementation of a Low Carbon Green Zone will work towards reducing waste production materials, saving energy with LED lights, and supporting green industrial development through the use of advanced motors.

IFC is a member of the World Bank Group. [IFC Press Release]