ANANTA APPARELS LTD
Status: Completed investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Ananta Apparels Ltd is a leading manufacturer and exporter of Ready Made Garments (RMG) based in Bangladesh. Ananta is producing denim jeans and formal suits with combined annual turnover of $250 million and employing over 20,000 people in 5 factories. Its major customers include H&M, Levis, Zara, M&S and other retailers based in the USA and Europe.
What is our funding objective?
The objective is to support Ananta with the production of masks for the use in Rohingya refugee camps. The masks can prevent the community transmission of COVID-19 in the Rohingya camps and prevent unnecessary death and suffering of vulnerable populations.
Why do we fund this investment?
COVID-19 has been spreading within Bangladesh since early-March 2020. The situation has caused huge pressure on the economy and almost every sector has been affected badly. The disease continues to spread within the local community and the government is struggling to test, trace and quarantine the affected people fast enough.
More investments
| Date | Total FMO financing |
|---|---|
| 5/25/2013 | USD 6.25 MLN |
- Website customer/investment
- http://www.ananta-bd.com/
- Region
- Asia
- Country
- Bangladesh
- Sector
- Infrastructure, Manufacturing and Services
- Effective date
- 8/6/2020
- End date
- 7/14/2021
- Total FMO financing
- EUR 0.05 MLN
- Funding
- FMO NV
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B+