PROJECT

Projects

Summary of Investment Information

Project Number

30350

Company Name

THE WILLBES HAITIAN SA

Date SPI Disclosed

Jan 31, 2014

Country

Haiti

Region

Latin America and the Caribbean

Projected Board Date

Mar 3, 2014

Environmental Category

B - Limited

Status

Completed

Last Updated Date

Jun 3, 2021

Department

Regional Industry MAS LAC & EUR

Industry

Manufacturing

Previous Events

Approved : Apr 1, 2014
Signed : Jul 1, 2015
Invested : Dec 23, 2015

Sector

Garment and Apparel (With Primary Textile Operations, Excluding Footwear)

Project Description

Through this project, IFC is looking to support the expansion plan of The Willbes Haitian S.A (“the Company”), the Haiti-based subsidiary of a leading South-Korean ready-made apparel producer. The Willbes Haitian S.A. currently was established in 2001 and operates out of the Haitian State owned SONAPI industrial park in Port-au-Prince assembling apparel product, employing approximately 1,740 workers, mostly uneducated women. The Project would create around an additional 1,000 jobs.

IFC proposes will support the Company’s investment program which includes the expansion of its existing sewing facility. This expansion will help the Company and Haitian workers benefit from the opportunity presented by the HELP Act which grants Haitian apparel duty-free entry to the United States and allows apparel factories flexible use of third-country materials in production (expiring 2020).

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation