World Bank Group member IFC has extended a loan of up to $20m to Novatex, a plastic resin manufacturer in Pakistan.
The loan will fund imports of key raw materials and machinery for packaging.
According to IFC, the financing is aimed at helping local manufacturing while supporting employment, export income and the stability of domestic supply chains.
The move is expected to limit dependence on imported packaging supplies and reduce the risk of disruption for manufacturers that rely on them.
The transaction is also tied to IFC's environmental priorities.
#novatex #member
The loan will fund imports of key raw materials and machinery for packaging.
According to IFC, the financing is aimed at helping local manufacturing while supporting employment, export income and the stability of domestic supply chains.
The move is expected to limit dependence on imported packaging supplies and reduce the risk of disruption for manufacturers that rely on them.
The transaction is also tied to IFC's environmental priorities.
#novatex #member
3 months ago
