Green finance agreement for Myanmar clothing sector

AYA Bank and the EU-funded Smart Myanmar project have signed a memorandum of understanding on co-operation to pioneer “green finance” in Myanmar. The aim is to jointly identify and pilot bankable green projects in 2019, and to inspire and guide more green lending programmes in the future.

Myanmar’s clothing industry has been growing an annual rate of more than 25% year-on-year since 2012. Such growth has brought with it hundreds of thousands of new jobs in the industry and new product technologies and manufacturing processes.

The economic development benefits for the country are immense, but so too are the environmental management challenges presented by such rapid industrial growth. Activities such as acid washing, digital printing, laser etching and in general a substantially increased carbon footprint from industrial growth require best practice solutions for improved production efficiency, energy, water and waste management.

For the full story, see the March 2019 edition of Textiles South East Asia. Not a subscriber? Sign up HERE