IFC loan for Bosnia soda ash plant.
THE INTERNATIONAL Finance Corporation (IFC) of the World Bank is
lending Euro 24 million to rehabilitate and expand a key soda ash plant
in war-damaged Bosnia & Herzegovina to help invigorate the local
economy, which remains sluggish, despite 12 years of peace. The loan to
Sisecam Soda Lukavac (SSL) will, said an IFC note "fund a
comprehensive turnaround program that designed to return the firm to
profitability and full capacity." It will also finance an
environmental improvement programme at the Tuzla-area plant, which is
the largest customer of local limestone and salt mines. SSL is
majority-owned by the Turkey-based Sisecam Group.