The agreement is aimed at broadening DEG's presence in Bangladesh and providing the DEG regional office in Thailand a greater reach in sourcing financing opportunities in this rapidly growing emerging economy.

Dr. Herbert Baumgartner, director of DEG's Representative Office in Thailand said, "The signing of the agreement signals our commitment to this country and our desire to invest further in its economic development."

Andrew Fraser, chairman of EPL, said, "We have confidence in Bangladesh's continued economic growth, and intend to work closely with DEG in furthering its development goals through economic empowerment of local businesses and their workforce."

DEG, member of Germany's KfW banking group, promotes private enterprise structures in developing and emerging market countries as a contribution to sustainable economic growth and a lasting improvement in the living conditions of the local population.

The cooperation agreement between DEG and EPL comes at a crucial point at which foreign investors' interests in Bangladesh are steadily rising as socio-economic factors are aligning for sustainable upward momentum in the country's growth rate, the release added.