Jun 25, 2022 06:11 PM

FINANCE

IFC Provides $150 million Blue Syndicated Loan to Bank of Qingdao

By Wang Liwei, Wang Shiyu and Tang Ziyi

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What’s new: International Finance Corporation (IFC), a member of the World Bank Group, said it will provide a $150 million blue syndicated loan to Bank of Qingdao Co. Ltd., to support the Chinese lender funding ocean-friendly projects.

The loan includes $40 million contributed by IFC and $110 million from the Asian Development Bank, DEG - Deutsche Investitions-und Entwicklungsgesellschaft mbH and Proparco, a French development financial institution, according to a statement released by Proparco on Friday.

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