$50 million needed by Salvadoran textile sector

The sector hopes that banks will inject part of the $400 million loan from the Inter-American Development Bank into the industry.

Monday, January 12, 2009

According to laprensagrafica.com "Since the middle of last year, the sector has experienced problems in accessing credit from the banking sector, since the combination of the economic crisis and the entrance of new banks in the country - which are closely screening clients looking for loans - has made it difficult for the sector to meet the needs of its clients.

More on this topic

Salvadoran Textile Exports Up 10%

August 2013

During the first six months of 2013 the textile industry sold $1,140 million, $104 million more compared to the same period in 2012.

"The industry has performed well, and that means more jobs in El Salvador," said Doris de Rivera, an economist in charge of the study by the Chamber of Textile, Clothing and Free Zones Companies(CAMTEX).

Limited Credit for the Salvadoran Textile Industry

April 2009

Faced with limited access to credit, the textile industry is looking to find financing abroad.

Jose Escobar, leader of the Salvadoran Chamber of the Textile Industry (CAMTEX), noted that the problem continues to be the risk analysis that is being used to evaluate them.

Salvadoran Textile Companies After Bailout

April 2009

The survey conducted by the Textile Chamber (CAMTEX) among its members reflects the need for $25 million for the sector.

José Antonio Escobar, CAMTEX president, noted that the textile industry will seek a meeting with President-elect Mauricio Funes to inform him about the situation.

Textile Manufacturer to Suspend 3,000 Workers in El Salvador

March 2009

The Fruit of the Loom textile company halted operations at one of its 7 plants, temporarily suspending 25% of its personnel.

The chairman of the Salvadoran Chamber of Textiles and Apparel reported to La Prensa Grafica that the decline in operations is due to "Fruit of the Loom clients being overstocked with product and adjusting inventories.”

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