IFC Provides loans to Anhui Conch Cement

The International Finance Corporation (IFC) today signed a contract to provide 650 mln yuan in loans to Chinese cement producer Anhui Conch Cement Company. The loans funds derive from IFC’s recent successful 1.13 b yuan "Panda" bonds issuance in China.

IFC said the raised funds will be used as loans to three Chinese companies including Guangzhou Development Industry (Holdings) Co., Ltd, United Family Hospitals & Clinics, and Anhui Conch Cement Company Limited. The first two will obtain 406 million yuan in loans and 450 million in loans respectively.