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

Pic: Shutterstock

Textiles | On 26th Jan 2021

China's textile & garment exports rise 9.6% in 2020

Despite the COVID-19 pandemic and global economic slowdown, textile...

Pic: Shutterstock

Textiles | On 26th Jan 2021

Vietnam, Israel to sign labour cooperation pact this year

Israel and Vietnam recently initiated negotiations over a labour...

Pic: Shutterstock

Fashion | On 25th Jan 2021

Boohoo buys Debenhams brand, website, but not its stores

Boohoo has reportedly purchased Debenhams brand and website for £55...

Interviews View All

Rashi Menda, Zapyle

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Smith Vaghasia, Sanado India

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Siddharth Biyani, Mangalam Industries Pvt Ltd

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Marco Girola,

Marco Girola

With its commitment to innovation and deep technical expertise,...

Wolfgang Muller,

Wolfgang Muller

Mayer & Cie is a leading global manufacturer of circular knitting...

Awanda Booth,

Awanda Booth

Held every year in New York City, Surtex is a global business-to-business...

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

Pierre Wiertz talks about the vast world of sustainable nonwovens and...

Razvan Popescu, Directa Plus SpA

Razvan Popescu
Directa Plus SpA

Directa Plus is one of the largest producers and suppliers worldwide of...

Alfonso Marra, Klopman

Alfonso Marra
Klopman

It was in 1968 that Klopman introduced the concept of poly/cotton workwear ...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

Rajesh Pratap Singh, Rajesh Pratap Singh

Rajesh Pratap Singh
Rajesh Pratap Singh

<div>Ace fashion designer <b>Rajesh Pratap Singh</b> has used Tencel to...

Karan Arora, Karan Arora

Karan Arora
Karan Arora

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

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

Leave your Comments


January 2021

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


Advanced Search