A significant financial institution in the MENA area, Mashreq, has signed a long-term sustainability-linked loan (SSL) with Apparel Group, the fashion and retail giant based in the UAE.
The Apparel Group’s sustainability journey is intended to be accelerated by performance-linked funding by setting high goals and producing measurable results. The Group can advance its sustainability activities and ensure verifiable progress towards its goals by utilising performance-linked finance. As part of the agreement, Mashreq will keep a close eye on how well Apparel Group is doing in terms of achieving its sustainability goals.
Mashreq is crucial in making it possible for Apparel Group to embrace sustainable practises. This entails thoughtfully selecting SPIs that address important environmental, social, and governance (ESG) aspects of the garment sector while remaining consistent with Apparel Group’s fundamental sustainability and commercial strategy.
Furthermore, Mashreq is in charge of adjusting the Sustainability Performance Targets (SPTs) for the chosen SPIs. These goals are intended to be applicable for the duration of the loan. Sustainability-linked loans aim to promote constructive change and spur effective activities within the industry by setting high goals and providing incentives.
Joel Van Dusen, Group Head of Corporate Banking and Investment, Mashreq said, “By signing this bilateral long-term sustainability-linked loan with Apparel Group, Mashreq is demonstrating its commitment towards sustainable financing as a serious and increasingly important consideration for businesses across all industry sectors.”
Neeraj Teckchandani, CEO of Apparel Group, said, “This inaugural sustainability-linked loan with Mashreq is a strategic move aligning with Apparel Group’s vision to infuse sustainability into every facet of our operations.”
Bharat Tex Special Report 2026 
