VOL. XXXVI

NO. 35

31-MAY-1993

Financial and Banking News

CAPITAL MARKETS

IFC Agrees To Take 5% Stake In Commercial International Bank

The International Finance Corporation (IFC - the private sector arm of theWorld Bank) is to take a 5% stake in Cairo-based Commercial International Bank (CIB).The stake, which is expected to cost about $15mn, will be the biggest initialinvestment ever made by the IFC in a financial institution.

The IFC's share purchase will form part of the third stage of a capital...