ADB, Meghna Group Sign $20M Deal to Boost Food Security

The Asian Development Bank (ADB) and Meghna Group of Industries (MGI), through its subsidiary Tanveer Dal Mill and Flour Mills Limited, have signed a $20 million loan agreement to build a state-of-the-art, energy-efficient flour milling plant in Bangladesh. This facility will double MGI's wheat flour production capacity, significantly improving output while reducing energy consumption by 37% compared to existing plants.

By improving energy efficiency, the new plant will cut operational costs and reduce carbon dioxide emissions by approximately 8,200 tons annually. Expected to process 660,000 metric tons of wheat, the facility will bolster domestic agricultural production and strengthen Bangladesh’s food security.

"By promoting energy-efficient technologies and enhancing product quality, this project directly supports Bangladesh's goals of food security, economic resilience, and environmental sustainability," said ADB Director General for Private Sector Operations Suzanne Gaboury.

The plant aligns with the Bangladesh government’s strategy to boost agro-processing and reduce energy intensity in key industries. With local wheat production far behind consumption—reaching 8.8 million tons in 2022 while producing only one million tons—the project addresses the pressing need to expand domestic milling capacity.

MGI Chairman and Managing Director, Mostafa Kamal, emphasized that the project will generate over 160 jobs, strengthen ties with 150,000 SMEs, and contribute to sustainable GDP growth. "This collaboration with ADB reflects our commitment to compliance and sustainable industrial practices," Kamal added.

Founded in 1976, MGI is a major diversified conglomerate in Bangladesh, with interests across consumer goods, energy, and logistics. ADB, established in 1966, remains dedicated to fostering a prosperous, inclusive, and sustainable Asia.