The International Finance Corp. has proposed providing Sri Lanka-based MAS Holdings’ apparel unit MAS Capital a $50 million loan to help the company weather the COVID-19 pandemic, according to an announcement on the development bank’s website last week.
The long-term loan, aimed at preserving jobs amid the pandemic’s impact, will be used for working capital, capital expenditure and general corporate needs in MAS Capital’s existing operations in Sri Lanka, the proposal said.
