IFC and Hellenic Cables invest in ICME-Ecab - International: Europe - International Finance Corp. in Bucharest, Romania - Brief Article - Statistical Data Included

Fiber Optics Business, Dec 31, 2001

The International Finance Corporation (IFC), the private sector arm of the World Bank, is to provide a loan worth EU 15 million ($13.5 million) to modernize an electrical cables plant belonging to ICME-Ecab in Bucharest.

The aim of the investment is to create a modern, cost-efficient and environmentally sustainable plant producing a wide variety of cables, conductors and wires, said the IFC.

The loan will be coupled with an investment from Greece's Hellenic Cables worth more than [CHARACTER NOT REPRODUCIBLE IN ASCII] 15 million. The IFC notes that these investments will create new employment opportunities, both directly within ICME-Ecab and indirectly through associate suppliers.