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Bangladesh Consortium, IFC launch $ 50m credit facility

The Alliance for Bangladesh Worker Safety (Alliance) has brokered a first-of-its-kind agreement with the International Finance Corporation (IFC) to help suppliers finance factory repairs. Through the resulting credit facility, the IFC will provide USD $10 million each to five Bangladeshi banks—USD $50 million total—for affordable loans to factory owners making necessary safety repairs. rmg“We are pleased to join forces with the IFC to launch this initiative, which promises to provide much-needed support to factory owners, speed the process of implementing repairs and h...