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| Tanker Ship Application & Tank Farm Terminal |
The European Bank for Reconstruction and Development (EBRD): The funds will be used to construct and operate a bulk-liquids terminal.
A US$ 341 million facility to Sonker, an Egyptian company providing hydrocarbon storage and bunkering, will support a significant upgrade of the country’s oil and gas infrastructure and will contribute to the energy security of Egypt.
As part of a consortium, the EBRD is extending a US$ 72 million senior loan and a US$ 22 million mezzanine loan to the company, while the International Finance Corporation (IFC), a member of the World Bank Group, is providing a US$ 70 million senior loan along with a US$ 22 million mezzanine loan and mobilising US$52.5 million from other investors. In addition, the Commercial International Bank (CIB) of Egypt, the country’s largest private-sector bank, is availing with US$ 28 million and the equivalent of US$ 44 million in Egyptian pounds loan as well as a US$ 30 million Credit Support Instrument Facility.
