Project Category
Project Category
Leather, Plastics & Rubber
Project Description
Project Description
This project is proposed under the Global Trade Supplier Finance program ("GTSF" or the "Program") approved by the IFC Board in September 2010 (Original Project #28723). The proposed project (the "Project") is up to US$30 million uncommitted, short term facility by IFC, subject to a participation by Export Development Canada ("EDC") of 50% of that amount, to support the suppliers of Aldo Group, Inc. ("Company" or "Aldo") in emerging markets. Aldo is a privately held Canadian corporation that produces footwear and operates a worldwide chain of over 1800 shoe and related accessory stores, including franchise stores, with a strong presence in the US and Canada. IFC will provide short term financing to the suppliers of the Company in exchange for their receivables owed by Aldo to help them better manage their cash flow needs as well as to provide them with a cheaper source of financing. The short term facility proposed by IFC is expected to be initially utilized by Chinese and Vietnamese suppliers, and can be expanded to include other emerging markets.
Our Reference Number
Our Reference Number
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