The International Finance Corporation (IFC), the private investment arm of the World Bank, has proposed to invest up to $10 million in a project being undertaken by Georgia-based BasisBank, which is majority owned by the Chinese Hualing Group.
The proposed project’s cost would consist of a revolving one-year senior loan for an amount of up to $10 million, and a credit facility of up to $2 million under IFC Global Trade Finance Program (GTFP), said IFC in a disclosure on June 5.
