Kandil Steel seeks IFC support to address rising raw material costs

Kandil Steel seeks IFC support to address rising raw material costs

The International Finance Corporation (IFC) is considering a three-year, $25 million loan to Egypt’s leading rolled steel manufacturer.

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            ▪ Kandil Steel seeks IFC support to address rising raw material costs

▪ The International Finance Corporation (IFC) is considering a three-year, $25 million loan to Egypt’s leading rolled steel manufacturer.

https://www.africabusinessplus.com/en/815624/kandil-steel-seeks-ifc-support-to-address-rising-raw-material-costs/

The revolving credit from IFC will enable Cairo-based Kandil Steel, headed for the past ten years by Amr Mohy Eldin Khalil Kandil, to cope with rising raw material prices and increased working capital requirements at a time when the local banking sector is suffering from a lack of foreign currency, particularly dollars.

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