{"id":625603,"date":"2018-08-09T03:49:00","date_gmt":"2018-08-09T03:49:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/09\/ifc-funding-to-egypt-hits-new-record-of-usd-1-2-bn-in-fy2017-18\/"},"modified":"2018-08-09T03:49:00","modified_gmt":"2018-08-09T03:49:00","slug":"ifc-funding-to-egypt-hits-new-record-of-usd-1-2-bn-in-fy2017-18","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/09\/ifc-funding-to-egypt-hits-new-record-of-usd-1-2-bn-in-fy2017-18\/","title":{"rendered":"IFC funding to Egypt hits new record of USD 1.2 bn in FY2017-18"},"content":{"rendered":"

IFC funding to Egypt hits new record of USD 1.2 bn in FY2017-18:<\/strong> Funding to Egypt from the International Finance Corporation (IFC) reached a new record with USD 1.2 bn in new financing doled out in the FY2017-18 fiscal year, which ended in June, according to a statement from the IFC (pdf)<\/a><\/u>. Among the landmark funding last FY was its USD 653 mn in financing to the Benban solar park and USD 15 mn in EGP to polymer and construction companies \u2014 the latter being its first local currency loan. The IFC also provided an Islamic financing package of USD 75 mn to Almarai, a USD 135 mn facility to the Egyptian Fertilizers Company, and USD 100 mn facility to our friends in CIB for SME funding. \u201cOur investments have been geared towards addressing the challenges facing the private sector \u2014 like power shortages, burdensome regulations, gender inequality, and difficulty in accessing financing. By tackling those issues, we can help lay the foundation for long-term growth and prosperity,\u201d said Walid Labadi, IFC Country Manager for Egypt, Libya, and Yemen.<\/p>\n

The IFC is committed to extending as much as USD 2 bn in funding to Egypt\u2019s private sector until 2019<\/strong> under the country\u2019s cooperation framework with the World Bank Group, according to previous statements<\/a><\/u> by IFC CEO Philippe Le Hou\u00e9rou.<\/p>\n","protected":false},"excerpt":{"rendered":"

IFC funding to Egypt hits new record of USD 1.2 bn in FY2017-18: Funding to Egypt from the International Finance Corporation (IFC) reached a new record with USD 1.2 bn in new financing doled out in the FY2017-18 fiscal year, which ended in June, according to a statement from the IFC (pdf). Among the landmark […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-625603","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"ea49b552-05e7-49bf-97d4-fcac66b40606","order":"0","is_powered_by":true,"section_story_id":"204b9c0c-09bc-43dc-b4d9-e486a372b9d2","story_type":"1","photo_url":"","photo_position":"above","related_issue":[625591],"teaser":"","voice_url":""},"yoast_head":"\nIFC funding to Egypt hits new record of USD 1.2 bn in FY2017-18 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/08\/09\/ifc-funding-to-egypt-hits-new-record-of-usd-1-2-bn-in-fy2017-18\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IFC funding to Egypt hits new record of USD 1.2 bn in FY2017-18\" \/>\n<meta property=\"og:description\" content=\"IFC funding to Egypt hits new record of USD 1.2 bn in FY2017-18: Funding to Egypt from the International Finance Corporation (IFC) reached a new record with USD 1.2 bn in new financing doled out in the FY2017-18 fiscal year, which ended in June, according to a statement from the IFC (pdf). Among the landmark […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/08\/09\/ifc-funding-to-egypt-hits-new-record-of-usd-1-2-bn-in-fy2017-18\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-08-09T03:49:00+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/08\/09\/ifc-funding-to-egypt-hits-new-record-of-usd-1-2-bn-in-fy2017-18\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/08\/09\/ifc-funding-to-egypt-hits-new-record-of-usd-1-2-bn-in-fy2017-18\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"IFC funding to Egypt hits new record of USD 1.2 bn in FY2017-18\",\"datePublished\":\"2018-08-09T03:49:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/08\/09\/ifc-funding-to-egypt-hits-new-record-of-usd-1-2-bn-in-fy2017-18\/\"},\"wordCount\":226,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/08\/09\/ifc-funding-to-egypt-hits-new-record-of-usd-1-2-bn-in-fy2017-18\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/08\/09\/ifc-funding-to-egypt-hits-new-record-of-usd-1-2-bn-in-fy2017-18\/\",\"name\":\"IFC funding to Egypt hits new record of USD 1.2 bn in FY2017-18 - 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