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Article: Peru : IFC Provides Financing to Peru's Oil and Gas Industry Amid Global Credit Crisis.
- Article from:
- TendersInfo
- Article date:
- November 12, 2008
CopyrightCOPYRIGHT 2008 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: manish03
IFC, a member of the World Bank Group, has disbursed a $15 million loan to BPZ Exploracion y Produccion SRL, supporting a growing Latin American oil and gas company in making use of Peru s natural resources during a time of tight credit markets.
BPZ Exploracion y Produccion is a Peruvian subsidiary of BPZ Resources, Inc. As the global financial crisis has made raising money difficult for the private sector in developing countries, IFC has disbursed a four-year revolving senior debt facility and is working with commercial banks to add $200 million under the same terms.
Our partnership with IFC is a driving factor in the future ...