Last Updated :
22 July 2008 at 15:20 IST
IFC to finance Salala Rubber
IFC, a member of the World Bank Group, has decided to provide long term loan to Salala Rubber, one of Liberia’s leading rubber companies, to expand its capacity.
The $10 million, 11-year loan is IFC’s largest agribusiness investment to date in this post-conflict country.
Salala Rubber will use part of the funds to develop and upgrade social infrastructure that was damaged during Liberia’s civil conflict.
The loan’s long tenor will provide the company with the flexibility to invest in rubber trees, which typically start producing latex in their seventh year after planting.
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