Financial and Banking News


IFC Lends $50mn to Moroccan Tourism Industry

The International Finance Corporation (IFC), a World Bank affiliate, has agreed to provide a $50mn loan to Credit Immobillier et Hotelier (CIH), the principal source of long-term financing for hotels in Morocco. The loan will provide CIH with the foreign exchange required to finance a substantial number of investments in Morocco's tourism sector. The IFC, assisted by Banque NMB-Interunion, has...