OCI subsidiary to receive USD 380 mn from EBRD, IFC

OCI subsidiary to receive USD 380 mn from EBRD, IFC: The Egyptian Fertilizers Company (EFC) has signed loan agreements with the European Bank for Reconstruction and Development (EBRD), International Finance Corporation (IFC), and several local and international banks worth a combined USD 380 mn and EGP 1.12 bn, parent company Orascom Construction Industries (OCI) announced on Thursday. EFC will use the loans to refinance existing debts it was due to repay in October 2019. The facilities include USD 100 mn from the IFC and USD 60 mn from the EBRD, according to an EBRD statement.