PRAN-RFL Group has achieved another significant milestone in attracting foreign investment to Bangladesh’s industrial sector. The group’s subsidiary, Banga Building Materials Ltd, has secured BDT 305 crore (USD 25 million) in financing from DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH, Germany’s development finance institution.
The investment will support a USD 29 million project aimed at importing advanced capital equipment and essential raw materials. Part of the financing is backed by the European Union’s EFSD+ (European Fund for Sustainable Development Plus) initiative.
The project is expected to boost local production of building materials, reduce import dependency, and generate significant employment opportunities, particularly in rural areas of Bangladesh.
The investment agreement was signed at PRAN-RFL Group’s corporate office in Badda, Dhaka. The ceremony was attended by Ms. Uzma Chowdhury, Director of Corporate Finance, PRAN-RFL Group, and Mr. Parvez Akhtar, Vice President (Asia), DEG, representing their respective organizations.
