EBRD BACKS MONGOLIAN CASHMERE PRODUCER
July 1st, 2009
BY KEITH NUTHALL
A NICHE producer of cashmere in Mongolia is being backed by a European Bank for Reconstruction & Development (EBRD) loan of US$800,000. The bank wants to boost the competitiveness of Ezio Foradori, a Mongolian-owned cashmere production company in the capital Ulan Bator. It produces high quality cashmere jumpers, skirts, scarves and other fashion garments for foreign luxury brands abroad: 98% is exported to Europe, the USA and Japan. The money will help buy new knitting machines, spinning and dying equipment. The world's largest cashmere ...
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