Ananta Group gets $14m French loan

Proparco, the private sector financing arm of the Agence Française de Développement Group (AFD Group), yesterday provided $13.8 million to local Ananta Huaxiang, a subsidiary of Ananta Group in Bangladesh, to expand its sweater manufacturing facilities in Narayanganj. 

This will strengthen the company's competitiveness in the international market, said a statement from the French embassy in Bangladesh.

Ananta Huaxiang ranks among the top 10 sweater producers in Bangladesh, exporting mostly to Europe for various international brands, the statement said.

The company will be better able to serve customers by producing over 10 million pieces of sweaters of a higher quality and price than before by 2023.

"It gives us immense pleasure to support (Ananta Huaxiang), a responsible actor in Bangladesh's garment industry committed to gender diversity," Diane Jegam, regional director – South Asia, Proparco, said in the statement.