IFC likely to extend $10m debt to Phoenix Commodities' Kazakhstan project

IFC likely to extend $10m debt to Phoenix Commodities' Kazakhstan project

International Finance Corporation (IFC) is looking to extend a $10-million loan facility to a greenfield orchard project, developed by Phoenix Commodities, in Kazakhstan, according to its filing.

Phoenix Commodities, a global agri-business with presence across Asia, Africa, Europe, Australia and the Commonwealth of Independent States, will establish a wholly-owned subsidiary, Phoenix Fruits LLP, to set the project, which is estimated to cost $80 million.

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