Data / Partner portfolio / World Bank Group / IFC

Codevi II

US$ millions unless stated. Haitian fiscal year, October to September. FY2026-27 began October 1, 2026.

Objective

The project will have a strong development impact. At full development, over a two year implementation period, the expansion project would generate 4,000 additional skilled jobs. CODEVI''s payroll, higher than the minimum wage, is the only source of stable livelihood for the 7,000 workers and their dependents, whose number is now estimated at approximately 60,000 in the town of Ouanaminthe and its surroundings. It is estimated that another 30,000 people live in Ouanaminthe, deriving their livelihood from indirect jobs associated with CODEVI''s operations. Furthermore, CODEVI''s payroll is made up of approximately 50% women who are amongst the most vulnerable segments of Haitian society. The project will therefore provide a social safety net to the current workers and their dependents. This investment is also expected to send a positive signal on the creditworthiness of private sector investment in Haiti and on the potential of the textile sector in the country. This project will contribute to the creation of new growth pole built entirely on the private sector initiative. The IFC approach in this investment is also driven by a focus on delivering impact on the ground to the community that has agglomerated around the jobs generated by CODEVI. To ensure delivery, IFC has also systematically identified upfront partners (with and through Ashoka and other NGOs) to identify and respond to community needs with technologies and businesses to deliver BOP goods and services. A pilot project managed by Ashoka with CODEVI''s support has already reduced the cost of basic goods and services to the workers and families, thus boosting disposable income and tangibly reducing poverty levels.

As published by IFC Finances One, in its original language.

Description

Founded in 1986, Grupo M is a vertically integrated apparel manufacturer in the DR producing knits and woven products to the highly competitive US market. Grupo M (DR) and its subsidiary CODEVI (Haiti) are an integrated operation with 7500 workers in Haiti and 500 workers in the DR and remain one of the largest garments manufacturing operation in the Caribbean/Central American region, supplying major US brand name companies including Liz Clairborne, Polo, Levis, Hanes and Calvin Klein. The main production site is at Caribbean Industrial Park (CIP), in Santiago City. Their Haitian operation, the CODEVI complex, a duty-free zone in Ouanaminthe, on the border with DR, is operating successfully and has grown its Haitian payroll from 300 in 2006 to

Partner

World Bank Group, IFC

Sector

Industry, trade and tourism

Stage

Closed since December 22, 2014

Approval

June 27, 2014

Closing

Not reported

Instrument

Loan, Loan

Effectiveness

April 15, 2015

Last transaction

December 22, 2014

Operation ID

34687

Financing

Table 1.Financing, US$ millions

Table 2.Position at the data date by source (stocks), US$ millions

Each amount is given as the source publishes it, converted to US$. IATI column: the commitments and disbursements the partner reports to IATI, converted to US$. Amounts by source

This page uses IFC Finances One for the commitment and IATI for disbursements.

New commitments and disbursements by fiscal year

Table 3.New commitments and disbursements by fiscal year (flows), US$ millions

Records and documents

Partner documents

• Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project, disclosures.ifc.org
• Summary of Investment Information, disclosures.ifc.org

Sources

• IATI record (d-portal): terms of use set by the publisher
• IATI: terms of use set by the publisher
• IFC project page: terms of use set by the publisher
• Transactions: terms of use set by the publisher
• Operation record: terms of use set by the publisher