Badsha Textiles Ltd. (IFC-47939)

Regions
  • South Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Bangladesh
Geographic location where the impacts of the investment may be experienced.
Specific Location
Bakharnagar, Hobiganj
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Oct 24, 2023
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Badsha Textiles Ltd.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Construction
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 40.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Loan Amount (USD)
$ 40.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 160.90 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Oct 24, 2023

Disclosed by Bank Sep 20, 2023

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

As stated by the IFC, the proposed investment is to contribute to a financing package of up to US$40 million, including IFC A loan for up to US$10 million, Managed Co-Lending Portfolio Program of up to US$10 million and a loan from the IDA PSW Blended Finance Facility which is subordinated in liquidation, of up to US$20 million to Badsha Textiles Limited belonging to Badsha Group, the largest yarn manufacturer in Bangladesh and one of the top-tier, vertically integrated sweater and woven garment manufacturing and exporting groups in Bangladesh.
The IFC Loans will support setting up of a greenfield spinning mill with a production capacity of 70,373 MT per year to manufacture premium cotton, viscose, blended cotton, cotton denim, poly cotton yarns.                                                  

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by the IFC, BTL belongs to Badsha Group. Established in 2004, Badsha Group, comprising four companies, is a family-owned business, founded by Mr. Md Badsha Mia who, along with his wife Mrs. Asma Begum, and his grown-up children Mr. Kamal Uddin, Ms. Sharmin Sultana and Mr. Mohiuddin Ahmed.  

Badsha Group is the largest yarn manufacturer and one of the top tier ready-made garments manufacturers and exporters in Bangladesh (refer https://www.badshatex.com/index.html). The Group comprises of four operational companies (Badsha Textile, Kamal Yarn, Pioneer Knitwear and Pioneer Denim) and its operations cover the value chain of the spinning, denim fabrics and garment manufacturing processes.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Badsha Textiles Ltd. Client Industry and Trade

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

General IFC Inquiries - IFC Communications:

Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Telephone: +1 202-473-3800
Fax: +1 202-974-4384

Client - Badsha Textiles Limited:

Muhammad Habibur Rahman FCMA - Executive Director (Finance and Operation)
Phone: +8801714167534
Email: ed@badshatex.com
Address: Holland Center 8th Floor Cha 72/1-B, Progati Sarani Dhaka, Dhaka, 1212 Bangladesh
Website: https://www.badshatex.com/

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

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