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IFC lends Kioo $10m for modern equipment


The East African
Tuesday February 02 2021
Bottles on a manufacturing line. Kioo Ltd has received funds to improve efficiency of its production. PHOTO | FILE
Summary
IFC said the loan will provide Kioo with working capital as the region s beverage industry faces falling demand due to measures put in place to contain the spread of Covid-19, like closure of bars and restaurants.
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World Bank’s private sector lending arm has granted $10 million to Kioo Ltd to invest in energy efficient machinery to reduce its carbon footprint in Tanzania.
The International Finance Corporation advanced the loan to the Tanzanian glass manufacturer to weather Covid-19 related challenges and invest in the latest modern energy-efficient machinery. ....

Dar Es Salaam , Frank Ajilore , Indian Ocean , Kumar Krishnan , International Finance Corporation , World Bank , Kioo Ltd , தார் எஸ் சலாம் , இந்தியன் கடல் , குமார் கிருஷ்ணன் , சர்வதேச நிதி நிறுவனம் , உலகம் வங்கி ,