Home / Knowledge / News / Apparel/Garments / IDB loan to help enhance Haitian garment sector jobs
IDB loan to help enhance Haitian garment sector jobs
30
Mar '13
The Inter-American Development Bank (IDB) announced the approval of a loan of up to $4 million to help Willbes HA, a subsidiary of The Willbes & Co Ltd, headquartered in Cheonan, Republic of Korea, to expand its existing ready-made garment facility at the Parc Industriel Métropolitain in Port-au-Prince.

The operation is the latest in a series of private-sector initiatives by the Bank in Haiti, including support for the northern Caracol Industrial Park.

“The Bank´s loan will enable Willbes to pursue a longer-term expansion creating additional jobs and associated economic benefits for Haiti,” said Alexandre Fernandes de Oliveira, Chief of the Industries and Services Division in the Structured and Corporate Finance Department.

¨It is expected that the company will hire significantly more women than men, contributing to greater gender equality in the workplace—the project will also help ensure compliance with international environmental and labor standards.”

The loan for the first phase of the expansion of the facility will result in employment and training for an estimated 918 new Haitian workers. Overall, the company´s planned multi-year expansion would add up to 4,500 new jobs to the Haitian economy, with direct and indirect benefits that would affect as many as 38,700 people.

Willbes is the oldest and largest private investor in the garment sector in Haiti--the project’s support for an estimated 37 percent expansion of sewing capacity will help ensure the continuation of the company’s operations in the country.

About the IDB’s Structured and Corporate Finance Department

The Structured and Corporate Finance Department (SCF) leads all IDB’s non-sovereign guaranteed operations for large-scale projects, as well as those linked to companies and financial institutions. Through its Loan Syndication Program, SCF acts as a catalyst, helping to engage third-party resources by partnering with commercial banks, institutional investors, co-guarantors and other co-lenders for projects with high development impact.

Inter-American Development Bank

Must ReadView All

Courtesy: UPM Raflatac

Apparel/Garments | On 17th Jan 2017

New residue free textile label adhesive from UPM Raflatac

Producer of self adhesive label materials UPM Raflatac, has...

Courtesy: Authentic Brands Group

Apparel/Garments | On 17th Jan 2017

Teen retailer Aéropostale reopens 500 stores in US

Teen apparel retailer Aéropostale has reopened 500 stores in the US,...

Courtesy: Centric Software

Information Technology | On 17th Jan 2017

Centric releases version 6.0 of PLM solution

Centric Software, the leading PLM solution for fashion, retail,...

Interviews View All

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search