VOL. XLII

No. 19

10-May-1999

PALESTINE

IFC Invests $28.4Mn In Housing And Tourism In Palestine

The International Finance Corporation (IFC) announced on 22April that it had agreed to invest a total of $28.4mn in the West Bank andGaza. $19mn of the total ($15mn in debt and $4mn in equity) will be invested inthe Palestinian Mortgage Housing Corporation (PMHC), a joint IFC-World Bankproject giving the IFC a 20% stake in the company痴 share capital. According toan IFC statement, the World Bank has...