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The Asian Development Bank (ADB) vice president Shixin Chen recently met Bangladesh Prime Minister Sheikh Hasina in Dhaka and reaffirmed the organisation’s commitment to supporting rapid recovery from the COVID-19 pandemic, as well as inclusive, resilient and green development in Bangladesh. Shixin met several other ministers during his visit.

While India’s exports of cotton yarn, fabrics, made-ups and handloom products in April were worth $1158.08 million, an 8.72 per cent year-on-year (YoY) rise, those of man-made yarn, fabrics and made-ups were worth $458.59 million, an 8.02 per cent YoY rise. Overall exports continued robust growth in April, with merchandise exports crossing $40 billion.

As Bangladesh’s foreign exchange reserves fall, the Bangladesh Bank recently instructed banks to take up to 75 per cent of import payments in advance from businesses to open letters of credit (LCs) for luxury and non-essential goods. The decision was taken in preparation of the upcoming import payment adjustments to the Asian Clearing Union (ACU).

Bangladesh’s per capita income increased by $233 to $2,824 during fiscal 2021-22 (FY22), according to a provisional estimate by the Bangladesh Bureau of Statistics (BBS). Planning minister MA Mannan said this after a meeting of the executive committee of the National Economic Council (NEC) recently. Prime Minister Sheikh Hasina chaired the meeting virtually.

SwatchOn, which is based in Seoul, Korea, has launched VMOD, an open marketplace for digital fashion that bridges the gap between real-life physical garments (IRL) and digital fashion ownership (URL). VMOD has been founded as a sister company to global sourcing pioneer and the one of the world’s leading wholesale fashion fabric aggregator, SwatchOn.

The Regenerative Production Landscape (RPL) Collaborative, founded by Laudes Foundation, IDH The Sustainable Trade Initiative and WWF India, recently launched its Compacts initiative in Madhya Pradesh that will reach 120,000 farmers and cover 100,000 Hectares by 2026. The first Compact is being formed in Chhindwara district, which will reach 20,000 farmers.

The Indian government will very shortly approve textile parks under the PM Mega Integrated Textile Region and Apparel (MITRA) parks scheme, minister of state for textiles Darshana Jardosh has said. The minister was addressing captains of the textile industry during the inauguration session of Gartex Texprocess trade fair in Mumbai on Thursday.

IFC has partnered with HCM City Development Joint Stock Commercial Bank (HDBank) to help Vietnamese small and medium businesses access innovative funding enabling them to take part in global supply chains, expand into new markets, helping drive Vietnam's economy. The collaboration is expected to help HDBank build an SCF portfolio of $1 billion by 2025.

Renewable power is set to break another global record in 2022 despite headwinds from higher costs and supply chain bottlenecks. Global renewable power capacity additions are expected to rise this year to 320 gigawatts – equivalent to an amount that would come close to meeting the European Union’s total electricity generation from natural gas.

Philippines’s Department of Science and Technology’s (DOST) Secretary, Fortunato de la Peña, recently announced that a regional yarn production and innovation centre (RYPIC) will soon rise in Ilagan, Isabela. In a report he said the RYPIC will be located at the Isabela State University (ISU), and its faculty and staff will run the centre.