IFC Partners with MACCEM to Support Local Cement Production and Job Creation in Sierra Leone
Sierra Leone, Sept. 24 -- To reduce Sierra Leone's reliance on cement imports, improve access to locally produced building materials create jobs in the country, IFC, a member of the World Bank Group, today announced a financing package for MACCEM Industries SL Limited, a leading local cement producer.The $24 million financing package will allow MACCEM to build and operate a new cement grinding plant in Freetown, creating thousands of jobs. IFC will lend $12 million from its own account and an additional $12 million loan will be provided by the IDA20 IFC-MIGA Private Sector Window Blended Finance Facility.With a planned capacity of 657,000 tons annually, the cement grinding plant will be the first to be built in Sierra Leone in four decades....
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