Envoy Textiles secures a $30m sustainability-linked loan from ADB, marking the first such loan in Bangladesh. The funds will be used to construct a new spinning unit and install rooftop solar panels, boosting yarn production capacity by 4,550 tonnes annually. Specific sustainability goals include greenhouse gas reductions and solar electricity generation targets. ADB aims to advance environmental sustainability and industrial modernization in the garment sector. Envoy Textiles is a key player in Bangladesh’s garment industry, accounting for 10% of the country’s denim fabric capacity. The company operates a platinum LEED-certified denim manufacturing facility and previously collaborated with ADB on a textile manufacturing project in 2022.

Read more at Yahoo Finance: Envoy Textiles to expand production with $30m ADB sustainability-linked loan