Technically required cookies
These cookies are mandatory for basic functions of the OeEB website.
In May 2024, OeEB signed a bilateral credit line of USD 25 million with the Q Collection Pte. Limited, Singapore and its subsidiary SQ Celsius Limited, Bangladesh, one of the largest companies in the textile and clothing sector in Bangladesh. The funds will be used to expand SQ Group's business activities, including Green Capex measures (e.g. ETP/wastewater treatment, rainwater harvesting, solar) and to finance working capital requirements of the group.
| Project name | Q Collection |
| Region | Southern and Eastern Asia |
| Sector | Industry |
| Service | Investment Finance |
| Project country | Singapore/Bangladesh |
| OeEB project volume | USD 25 million |
| International climate finance according to UNFCCC | Partially |
| Additionality | Financial additionality |
| Project partner(s) | Q Collection Pte. Limited, SQ Celsius Limited |
The SQ Group was founded by Mr. Muhammad Ghulam Faruq, a former executive at the World Bank, in 1993 in Bangladesh. With around 19,000 employees (approx. 50% women), SQ Group is now one of the leading garment manufacturers in Bangladesh, with major European clients such as M&S and H&M.
OeEB funds will be used to support the construction of a state-of-the-art sweater factory and of green capex measures for its subsidiary SQ Celsius, Bangladesh which is mainly active in the knitwear manufacturing. The investments will inter alia support the efforts of the group to reduce the process water consumption. The SQ Group is strongly committed to social and environmental aspects. All factories have a LEED Platinum/Gold certification. In terms of gender, the group has implemented a number of initiatives to reduce gender inequalities and to help improve the working and living conditions for women.
Due to the implementation of the project, SQ Group expects to create more than 10,000 direct jobs in the next 5 years.