IFC breaks new ground in MENA financing
- From: Vol 9, Issue 6 (June 2008)
- Category: General
- Region: Middle East
- Country: Morocco
- Related Companies: IBRD, International Finance Corporation , Radeej and World Bank
A sub-national guarantee will enable Moroccan utility RADEEJ to borrow 15-year money to fund sewerage upgrades. It is the IFC’s first commitment of this kind in the region, and other utilities are already looking to follow.
The International Finance Corporation has signed a risk-sharing agreement with a group of four Moroccan financial institutions, enabling them to extend the tenor of a recently signed MAD300 million (USD40 million) loan to RADEEJ, the water and electricity utility of El Jadida.
The funds will be used to rehabilitate and expand the sewerage collection infra- structure in the city of ...
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