THE International Finance Corporation (IFC), of the World Bank has pumped more money into Turkish vehicle fleet management company Intercity.
It will lend Intercity $42.75 million, which follows the IFC's purchase of 20% equity earlier this year.
The latest loan, said the IFC, would 'strengthen Intercity's long-term leasing of its vehicle fleet to a variety of private sector enterprises'.
A total of $27.75 million of the new financing will be routed through venture capitalists Cordiant of Montreal, Canada, and the State Bank of India Los Angeles Agency.
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