Hela

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   IFC is considering a loan of up to US$20 million for Hela Investment Holdings Ltd (“HIH”), to support the long-term working capital requirement of the African and Sri Lankan manufacturing operations of Hela Apparel Holdings PLC (“Hela” or “Hela Group”), and support the expanded production of active wear and intimate wear (“the Project”).  The Hela Group started in Sri Lanka as a cut and sew operation and has evolved to become an end-to-end supply chain solution provider for its customers serving a client base in the USA, Europe and Asia. It currently operates 6 manufacturing facilities in Sri Lanka, 1 in Kenya, 2 in Ethiopia (including a joint venture facility), and 1 in Egypt, as well as 4 global design centers. Altogether, Hela Group employs over 18,000 workers, 70% being women. Hela classifies its products as intimate wear, kids wear and active wear. For more information about Hela facilities and production activities see www.helaclothing.com .