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Tag: IFC

IFC pledges $100 million to oil and gas projects in Egypt

Posted: August 30, 2017 at 12:27 pm   /   Oil & Gas

The International Finance Corporation has pledged USD 100 mn to oil and gas projects being carried out by major global firms in Egypt, an Investment and International Cooperation Ministry statement says (pdf). This comes as the World Bank Group’s executive board agreed to help fund projects worth a combined USD 500 mn in Egypt’s oil […]

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Egypt signs finance agreement for Sonker’s Ain Sokhna terminal

Posted: May 7, 2017 at 5:50 pm   /   Oil & Gas

The government signed an agreement activating the financing of Sonker’s liquid bulk terminal in Ain Sokhna, Al Masry Al Youm reported. Sonker is investing USD 500 mn to construct and operate a bulk-liquids terminal for the import and storage of gasoil and LPG in the third basin of Ain Sokhna Port. USD 320 mn of […]

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Egypt to boost use of renewable energy to 22% by 2020

Posted: April 20, 2017 at 2:27 pm   /   Renewables

Egypt aims to increase its use of renewable energy to 22 percent by 2020, the country’s Investment and International Cooperation Minister Sahar Nasr told Regional Director of Norway’s Scatec Solar Morten Langsholdt during a Cairo meeting on Sunday. According to an official press release by the ministry, Nasr told Langsholdt that Egypt is keen on […]

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Circle Oil agrees to extend IFC repayments, says payments from Egypt continue to be "unpredictable"

Posted: June 27, 2016 at 8:19 pm   /   Oil & Gas

Egypt-focused Circle Oil plc announced Friday that International Finance Corporation (IFC) has agreed to extend the suspension of the December 2015 redetermination and any repayments due under its Reserve Based Lending facility until July 22. IFC has also indicated its willingness to consider further waivers as may be required to continue the Strategic Review process […]

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International Finance Corporation invests $25 million in Carbon Holdings

Posted: May 31, 2016 at 2:09 pm   /   Oil & Gas

IFC Supports Manufacturing in Egypt with a $25 million Investment in Carbon Holdings Limited IFC, a member of the World Bank Group, will invest $25 million in Carbon Holdings, an Egyptian developer and operator of manufacturing projects for downstream petrochemicals required in a range of industries, including mining, food packaging, and automotive parts. Egypt is […]

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