Middle East Economic Survey
VOL. LII
No 39
28-Sep-2009
REGIONAL
IFC Supports Oil, Gas Private Sector In MENA
The IFC, a member of the World Bank Group, has signed a $50mn financing agreement with Kuwait Energy Company aimed at accelerating the development and exploration of its oil and gas assets in Egypt and Yemen. IFCs financing package consists of a $35mn reserve based facility and a $15mn income participation facility. The financing uses a murabaha structure, commonly used in Shari'a compliant...
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