Bosnian chemical plant gets IFC loan
SARAJEVO (Reuters) – The International Finance Corporation (IFC), the private equity arm of the World Bank, yesterday approved a $32 million loan for Bosnia’s chemical plant Sisecam Soda Lukavac to help it expand capacity. The loan will modernize the production process at the plant, majority-owned by Turkey’s sodium sulfate producer Soda Sanayi AS, enabling the annual output to more than double to 250,000 tons, said Sisecam’s official Aytac Mutluguller. Mutluguller, the manager for international finance and investments, told Reuters that the loan was secured under favorable conditions with eight-year maturity and a two-year grace period.
