Dhaka, Oct. 2 -- The Asian Development Bank (ADB) has signed a $30 million sustainability-linked loan facility agreement with Envoy Textiles Limited, marking ADB's first such loan in Bangladesh.

The financing will support the design and construction of a new automated, energy-efficient spinning unit at Envoy's manufacturing plant in Jamirdia, Mymensingh, boosting the company's annual yarn production capacity by 4,550 tons.

The loan will also finance the installation of 3.5 MWp rooftop solar panels and refinance short-term local working capital loans.

Sustainability-linked loans are performance-based debt instruments tied to predefined key performance indicators, assessed against sustainability performance targets.

For Envoy, these inc...