VOL. XLV

No 10

11-March-2002

EGYPT

IFC Provides $25Mn AndArranges $30.5Mn Syndicated Loan For EgyptsOCI

The InternationalFinance Corporation (IFC), the private sector development arm of the WorldBank, announced on 27 February that it had signed an agreement to provide EgyptsOrascom Construction Industries (OCI) with a directlong-term loan of $25mn and that it is also arranging a $30.5mn syndicated loanfor OCI. The $25mn is to be provided by IFCs ownaccount and to be fully repaid by 2010 with a...