VF Corp. Guarantees Loans to Improve Factory Safety in Bangladesh
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VF Corp. in a press release issued on Wednesday said it would provide “full guarantee” for a loan of up to $10 million that IFC, a member of the World Bank Group, and its partner BRAC Bank, will lend to its suppliers in Bangladesh.
The funding arrangement was designed to help VF suppliers in Bangladesh overcome financial obstacles to improve workplace safety conditions, the release said.
The guarantee will enable financial institutions to offer lower interest rates on the loans provided to the factory owners.
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