Epyllion Knit (IFC-42000)

Countries
  • Bangladesh
Where the impacts of the investment may be experienced.
Specific Location
Narayanganj
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Mar 7, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Epyllion Group
The holder of the loan, grant, or other investment.
Sectors
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 14.40 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 34.70 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Mar 8, 2019

Disclosed by Bank Feb 4, 2019


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Project Description

According to the bank website, "The Project involves setting up a greenfield factory in Narayanganj, which will comprise 50 sewing lines, washing facilities, and embellishment capabilities. The proposed project will increase Epyllion’s cutting and sewing capacity by 25 million pieces per year from current capacity of 16 million to post project capacity of 41 million pieces per year, which will be fully exported to major global retailers."

Investment Description
  • International Finance Corporation (IFC)
Private Actors
  • Epyllion Group -- Parent Company
  • Epyllion Knit Wear Limited -- Implementing Company

According to IFC, the project sponsors are Mr. Reaz Uddin Al-Mamoon, Mr. Md Junaid Abu Salay Musa and Mrs. Kishwar Jahan, who are the shareholders of Epyllion Knitwears Limited. The shareholding structure is as follows - Mr. Reaz Uddin Al-Mamoon (45.8%), Mr. Md Junaid Abu Salay Musa (31.7%) and Mrs. Kishwar Jahan (22.5%).  

Contact Information

Epyllion Knitwears Limited
Epyllion GroupNina Kabbo, 227/A, Gulshan-Tejgaon Link Road, Tejgaon, Dhaka-1208Tel: 9840223Fax: 88-02-9855293Mobile: 01730-725925arshad@epylliongroup.com
Chief Financial officer
+88029840223
arshad@epylliongroup.com
Nina Kabbo, 227/A, Gulshan-Tejgaon Link Road, Tejgaon, Dhaka-1208Bangladesh
www.epylliongroup.com

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/