TCF POST Report
Bangladesh’s knitwear giant DBL Group has secured USD 43 million in long-term financing from German development finance institution DEG (Deutsche Investitions- und Entwicklungsgesellschaft mbH) to support an acquisition and further expansion in manufacturing.
This marks the third financing partnership between DBL Group and DEG, extending a relationship that previously supported Color City Ltd. and Matin Spinning Mills Ltd.
The latest financing will support DBL Group’s acquisition of Glory Textiles & Apparels Ltd. (GTAL), a vertically integrated knitwear concern, and its transformation into a fully integrated, DBL-standard facility, according to a DBL Group statement.
Of the total facility, USD 16 million is co-financed through the Global Innovation Investment Fund (GIIF), established by DEG and Germany’s Federal Ministry for Economic Cooperation and Development (BMZ).
The new investment is expected to create 2,150 jobs, 35% of which will go to women recruited from local communities, directly advancing UN Sustainable Development Goal 8 (Decent Work and Economic Growth). DEG will also support GTAL’s decarbonisation plan through its Business Support Services.
The agreement reflects a continued commitment to sustainable growth, responsible manufacturing, and stronger local value chains across Bangladesh’s export-oriented industrial sector.
DBL Director M.A. Rahim Feroz told TCF Post that the company’s new accessories unit at Srihotto Economic Zone is now at an advanced stage of development and will produce trims for garments and footwear.
DBL Group is reported to be the top player in the knitwear subsector of Bangladesh’s export-oriented garment manufacturing industry. The group earns more than USD 520 million annually from garment exports, while its ceramics, pharmaceuticals, and other businesses push total group turnover above USD 1 billion a year. The group is also now investing in semiconductor manufacturing.