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VF puts new finance package in place to help fund safety improvements in Bangladesh

03/09/2014
VF Corporation, the parent group of The North Face, Timberland and other brands, has set up a collaboration with the International Finance Corporation (IFC), a member of the World Bank Group, to provide up to $10 million in financing for building upgrades and fire and safety improvements in supplier factories in Bangladesh.

These funds are part of VF’s overall $17 million commitment to the health and safety of Bangladeshi garment workers. The arrangement means loans will become available from IFC to help the group’s suppliers fund improvements to their working environment. VF said the loans will be “at a reasonable cost” to qualified suppliers who own factories in Bangladesh.

“The safety of the people making our products around the world is an imperative,” said VF chief executive, Eric Wiseman.




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