IFC extends $10 million Loan to LLC
The International Finance Corporation (IFC), the private sector body of the World Bank, extended this week a credit line worth $10 million to the Lebanese Leasing Company (LLC)aimed at assisting small-and medium –sized enterprises through long-term financing mechanisms to acquire necessary equipment and machinery.
The 5-year maturity loan carries an interest rate equivalent to 6-month LIBOR plus 310b.p. IFC officials announced that the outlined investment is in line with its global strategy consisting of embarking into promising investments in emerging markets to further reduce poverty and stimulate growth. — ( Lebanon Invest )
© 2001 Mena Report (www.menareport.com)