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IFC signs deal for fertilizer plant

IFC has signed a US$20-million loan and a US$10-million equity investment with a Chinese company in Sichuan Province to help the southwest China region recover from a devastating earthquake last year.

The agreement, which is to finance the construction of a 450,000-ton-per-annum fertilizer plant, is expected to improve the living standards of local farmers, said the IFC, a member of the World Bank, in a statement released on Monday. Providing equity and long-term debt will enable the company to complete the construction of the plant and satisfy its financing needs over the next nine years.


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