Middle East Economic Survey

VOL. LIII

No 24

14-Jun-2010

REGIONAL

IFC Loans $35Mn To GAC To Buy Offshore Support Vessels

The International Finance Corporation (IFC), a division of the World Bank, is providing a $35mn loan to marine services contractor GAC Group for the purchase of up to six new supply vessels to support offshore oil rigs, the IFC said on 3 June. Three of the vessels will operate in Kazakhstan, while the others will be deployed in the Middle East and North Africa. An IFC statement...