Denmark approved an amount of Tk 54 million (5.4 crore) in grant for training and technical assistance, export promotion and environmental improvement activities to help set up an all-over printing facility for knitwear.
Danish Ambassador in Bangladesh Niels Severin Munk approved the grant as a part of the Danida Private Sector Development (PSD) Programme.
The production facility will be established at Bhaluka, north of Dhaka, as a joint venture between Clothing Partners International A/S, Denmark and Consumer Products Limited, Bangladesh.
The partnership will be one of the pioneers in Bangladesh to establish an all-over printing factory for knitwear as a third-party facility, which gives the small and medium garment producers access to raw material and services they need in order to compete in the value added segment of the growing market for knitwear exports.
The overall objective of the Danida PSD Programme to contribute to the economic and social development of Bangladesh by attracting Danish technology and investments in the private sector of Bangladesh.
The PSD Programme supports establishment of profitable, long-term and mutually binding commercial ventures between Bangladeshi and Danish companies.
The Programme also provides advisory services, grants and loan facilities during the pre-project and the project implementation phases of the cooperation between Bangladeshi and Danish companies qualifying for assistance.