Monday, 23 July 2007

Local financial firm secures billions from IFC

From IPP Media, Dar es Salaam
By Perege Gumbo

The International Finance Corporation (IFC) will invest USD 20 million (approx.21bn/-) into Blue Financial Services to boost its lending and insurance businesses.

The support coming from this private sector investment arm of the World Bank Group would be split equally between equity and a senior debt facility.

The equity transaction sees the USD 10 million in Blue share and the second USD10 million is made available to `Blue` as a conventional senior debt loan.

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