Dubai, 7 September 2021(TDI): Today, the International Financial Corporation (IFC), a member of the World Bank Group, confirmed a $30 million loan to the UAE-based BCI Holding SA Group. BCI Holding SA Group, headquartered in the United Arab Emirates, is a regional leader in the production of construction materials, equipment, devices, and specialties.
According to the IFC, the loan will enable the group to expand its existing production plant in Egypt and establish new factories in Algeria and Nigeria, allowing it to advance regional business operations, a flexible product line, and other industries. Moreover, the loan will allow the company to expand its production in Algeria, Egypt, and Nigeria, creating dozens of new jobs.
The collaboration with BCI keeping SA, as shown in the International Finance Corporation, is part of the organization’s strategy to combat poverty and increase job opportunities in the Middle East and Africa region through small business development. According to the IFC, the project will help to improve regional cooperation, innovation, and the advancement of continental supply chains by establishing new industries across Africa.
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