International Finance Corporation (IFC),the World Bank investment arm, has been appointed as a consultant by the Central Bank on the possibility of privatizing the loss-making carrier Middle East Airlines (MEA).
The Central Bank, which bought 99.37%of MEA in 1999 to keep it afloat, has asked the IFC to “assess the alternative paths available for the successful divestment” of its share in MEA. Moreover, the IFC might put together a plan to sell-off MEA as part of the government’s strategy to privatize state assets, thus helping raise revenue.
