Middle East Economic Survey

VOL. XLVII

No 50

13-December-2004

AID

IFC Invests $25Mn To Finance Oil & Gas Activities In Egypt And Bulgaria

The International Finance Corporation (IFC) announced on 8 December a $25mn investment to finance Melrose Resources subsidiaries to support oil and gas activities in Egypt and Bulgaria. While a precise split of the funds has not been provided, MEES understands that Melrose expects significant growth in its Egypt operations and therefore much of its...