The West African Development Bank (WADB) has granted a loan of 4.5 billion CFA F to the Ivorian Steelworks Company (ISC), a subsidiary compa n y of the group EUROFIND, the bank indicated in an official statement obtained by
PANA here Monday.
According to the Executive General Manager of the ISC, M. Adham El-Khalil, the 4 .5 billion CFA F represents a partial financing of a production project of the c o mpany valued at 10 billion CFA F.
The loan will make it possible for the company to produce metallurgic products w hich are used in infrastructures and therefore in the development of the sub-reg i on.
Justifying the involvement of the bank in such projects, WADB President, M. Abdo ulaye Bio-Tchané, said the bank was determined to partner with local industries i n the development of the housing and other sectors.
Established in 1978, the Ivorian Steelworks Company is the first steel transform er in the sub-region with customers all over West and Central Africa.
With the loan in place, ISC expects to reach a production level of 30,000 tonnes per annum from 2010.
