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Kuwait Energy to get $50m World Bank loan
- Kuwait: Thursday, September 24 - 2009 at 09:51
Kuwait Energy Company (KEC) will get a $50m loan from the International Finance Corporation (IFC), the World Bank's private sector lender to help the company support the company's recent oil discoveries in Egypt and conduct more exploration in Yemen, Reuters has reported. The financing package includes a $35m reserve-based facility and a $15m income participation facility, using a Murabaha structure that is common in Islamic finance transactions.
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StaffThursday, September 24 - 2009 at 09:51 UAE local time (GMT+4)
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