Hela Clothing gets IFC funding

IFC, a member of the World Bank Group, has partnered with local apparel manufacturer Hela Clothing (Pvt) Ltd to boost trade opportunities through a trade-supplier finance facility. Hela Clothing is the latest apparel company in Sri Lanka to join IFC’s Global Trade-Supplier Finance programme, a media release issued by the company said on Tuesday.
 
Through this facility, IFC will provide a supplier-finance credit line to Hela Clothing against receivables from selected international buyers, providing working capital directly to the company, it was said.
 
“Hela clothing prides itself in developing world-class products that establish the company as a trend-setter in the global market-space. IFC’s trade-supplier finance programme will bring greater flexibility to our operations allowing us to continuously innovate and meet the evolving needs of the apparel market. We intend to become more competitive within the global apparel industry,” said Dian Gomes, Chairman of Hela Clothing. (Sunimalee)