Bangladesh Export Readiness Fund, managed by Landell Mills, Receives Over 400 Applications
The Bangladesh Export Readiness Fund (ERF), funded by the World Bank Group, implemented by the Ministry of Commerce, Government of the People's Republic of Bangladesh, and managed by Landell Mills, has received over 400 applications under Window 1. Following on from this success, Window 2 and 3 of the ERF opened for applications in September 2020.
The ERF is a US$10 million matching-grant programme and is a component of the Export Competitiveness for Jobs (EC4J) Project. The fund provides financial support to eligible Bangladeshi firms to identify gaps, catalyse investment and improve Environmental, Social and Quality (ESQ) standards, and therefore improve competitiveness on the export markets.
Windows 2 and 3 of the ERF opened for applications following an announcement made by Dr Jafar Uddin, Secretary at the Bangladesh Ministry of Commerce, at a launch event on the 30th September. Window 2 covered business and technical services of up to $40,000 USD, while Window 3 covered projects in both services and fixed asset expenditures up to $200,000 USD.
Target export industries for the ERF aligned with Government priorities for diversifying Bangladesh's export basket, and included small and medium-sized enterprises (SMEs) operating in the leather, footwear, plastics, and light engineering sectors.
Grant support was provided for advisory services, training, and equipment that enabled eligible firms to identify and address ESQ compliance gaps and upgrade their factories, improve production processes and enhance product quality, as required by international buyers and the regulatory standards of the major export markets.
The implementation of the project will continue until June 2023. More information about the ERF can be found here.