The World Bank’s International Finance Corporation (IFC) has been a key backer of independent oil and gas firms in poorer MENA countries: Tunisia, Jordan and Morocco, but especially Egypt.
The IFC has fronted over $578mn for oil and gas projects in Egypt over the past five years, MEES analysis indicates. The most recent disbursement, $100mn for fledgling Egyptian E&P firm Apex International, came as recently as 1 December. (CONTINUED - 1657 WORDS)
