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FINANCIAL NEWS
ICF will invest USD 25mn in Egypt’s Carbon Holdings
31 May 2016
(MENAFN) The Intl’ Finance Corporation (IFC) will invest USD 25mn in Carbon Holdings Limited, an Egyptian downstream petrochemical producer.
Moreover, the Co. will support regional entrepreneurs and increase their access to capital, enhancing investors’ confidence and driving much needed growth in Egypt.
Meanwhile, the country depends on importing petrochemical products, despite having the raw materials needed to turn the country into an exporter.
In addition, the IFC invested USD 1.2bn in Egypt, between 2011 and 2015, which covered 18 projects in many sectors, including financial markets and health care.
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