Companies & Finance

IFC debt disbursed for Ivory Coast exploration

The World Bank's lending arm, the International Finance Corporation (IFC), has confirmed it will lend $20 million to Rialto Energy for exploration work in the Ivory Coast. Half of the debt will come from the IFC's central fund, with the final $10 million supplied by the multilateral agency's African, Latin American and Caribbean fund.
By Joshua Posaner 13 April 2012 0 9061

The World Bank's lending arm, the International Finance Corporation (IFC), has confirmed it will lend $20 million to Rialto Energy for exploration work in the Ivory Coast. Half of the debt will come from the IFC's central fund, with the final $10 million supplied by the multilateral agency's African, Latin American and Caribbean fund. A total of $16 million could also be invested in addition to the amount already disbursed.

The investments will support Rialto in the exploration of the CI-202 offshore oil and gas block off...