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    Orascom agrees $100m loan from World Bank

    Jaantje Browning

    by Jaantje Browning

    Orascom Construction Industries has announced that the International Finance Corporation, a member of the World Bank Group, will provide a $100m loan to Orascom Construction, the company’s wholly owned construction subsidiary.
    The loan will be used to finance the operations of the company as well as ongoing and new projects, said Salman Butt, chief financial officer of OCI. He added that securing the loan meant that Orascom Construction had the necessary capital to expand its operations across the region.