Glass manufacturer Pasabahce Egypt secures US$30m from IFC to upgrade its facility

EGYPT – IFC, a member of the World Bank Group, has announced a financing package worth US$30 million for leading glassware manufacturer Pasabahce Egypt for Glass Manufacturing S.A.E. to help the company boost exports, introduce cleaner production practices, and create jobs. Pasabahce Egypt is a subsidiary of the Sisecam Group. Its factory mainly serves markets in the Middle East, Turkey, and the United States. The US$30 million financing package includes a long-term loan of up to US$20 million and a shorter-term loan of US$10 million. IFC’s support will help Pasabahce…

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