EBRD AND WORLD BANK HELP EGYPT BOOST GAS HANDLING CAPACITY
February 1st, 2016
SIGNIFICANT improvements to Egypt’s capacity to import liquefied gas are anticipated after the European Bank for Reconstruction & Development and the World Bank announced financing for hydrocarbon storage and bunkering company Sonker. The international financiers are to lend USD341 to Sonker, with the EBRD is lending USD94 million, the World Bank’s International Finance Corporation (IFC) ending USD92 million and USD52.5 million being leveraged from other private investors. The Commercial International Bank (CIB) of Egypt, the country’s largest ...
Full access to this article can be arranged with permission from the client that first ordered it. Please contact us to request access. Entries are uploaded to our archive at least one year after being published by a client – free access is restricted to International News Services journalists for background research only. The article date indicates when copy was filed to a client, not when posted to this archive. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.