World Bank loans US$40m to Myanmar Industrial Port
Myanmar Industrial Port (MIP) is set to receive a US$40m loan from the International Finance Corporation (IFC), part of the World Bank Group.
The loan takes the form of mezzanine financing, meaning the IFC can convert the loan into ownership of MIP if it is not paid back in time and in full.
The terminal, which handles around 40% of the country’s container traffic, will receive a further US$160m in long-term senior loans from the IFC and other foreign lenders.
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