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Sri Lanka's MAS Active gets IFC trade finance
06 Nov, 2013 15:04:53
Nov 06, 2013 (LBO) - International Finance Corporation, a World Bank arm said it had given a supplier finance credit line to MAS Active, a top Sri Lanka based apparel exporter.
MAS will get credit against receivable due from selected international buyers, IFC said.

"In the fast-changing globally competitive apparel industry, suppliers like MAS need to continuously strengthen flexibility and responsiveness, while managing costs," Sudarshan Ahangama, group finance director at MAS Holdings, said in a statement.

"IFC's trade supplier finance program brings greater flexibility to MAS Active's operations while enhancing liquidity of the company."

IFC said the credit line is scalable and affordable to emerging market firms and may allow the buyer to get better payments terms or prices.

"Financing production cycles can drain working capital and borrowing capacity that suppliers need to operate their businesses," Georgina Baker, IFC Director for Global Trade and Supply Chain Solutions said.

"Through IFC’s trade supplier finance program, suppliers like MAS Holdings will be able to access much-needed financing and grow their business while effectively managing risk."

IFC said MAS Active is the fastest growing provider of competition sportswear and fashion leisurewear in the region, and supplies premium brands in the USA and Europe.

IFC has also provided finance to Brandix, another Sri Lanka based apparel firm.

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