Deal Round-Up: IFC invests in new roads, agribusiness and tourism in Dhaka

12th April 2017 Steve Hoare
  • The World Bank Group’s IFC has lent the government of the province of Cordoba US$300 million for new roads, along with US$75 million to Argentine biodiesel company Renova to install a new soybean crushing facility and new port facilities. It also lent Bahrain’s MS Pharma Ventures US$50 million to add IPO-worthy scale, and US$18 million Bengal Hotel and Resorts to develop a new hotel in Dhaka.
  • The next most prolific institution of the week is the EBRD, which has invested US$50 million in Serbian company Electrawinds K-Wind to finance the construction of the Kovacica wind farm. It has also had US$81 million approved by the Green Climate Fund (GCF) to fund a hydropower project in Tajikistan and agriculture projects in Morocco.
  • The usually prolific African Development Bank has just one deal in this week’s Round-Up with US$29.8 million invested in Tanzania’s natural gas sector.
  • The Islamic Development Bank agreed to finance a 220-bed hospital in Djibouti with US$78 million.
  • The OPEC Fund for International Development (OFID), the Development Bank of Austria and the German development finance institution DEG teamed up to assist Sri Lanka’s micro, small and medium enterprises via a term loan agreement with Seylan Bank.
  • The UK’s CDC Group announced US$100 million to be invested in India’s renewable energy sector.
  • And finally, the Africa Finance Corporation issued a seven-year US$500 million Eurobond.

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