IFC may extend $90m debt to Philippines' Energy Development Corp

The International Finance Corporation (IFC), the private lending arm of World Bank, is considering extending a loan of $90 million to Energy Development Corporation (EDC), an integrated geothermal steam and electric power producer in the Philippines.

These capital expenditures include the balance of work related to the recovery of service of the geothermal power plants in Leyte that were affected by the July 2017 earthquake, according to IFC’s disclosure. Some of the proceeds will go towards supporting the company’s capital requirement and other corporate purposes for existing geothermal operations in 2018.

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