VOL. XL
No. 13
31-March-1997
EGYPT
IFC Invests $25Mn In Egyptian Tourist Sector
The International Finance Corporation (IFC), the private-sectorfinancing arm of the World Bank, has approved $25mn in financing for the Egyptian companyOrascom Projects and Touristic Development (OPTD) for the expansion of the al-Gounatourism development near Hurghada on the Red Sea coast. According to an officialstatement, IFC's financing consists of a $20mn loan for its own account and an equityinvestment of...
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