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IFC to invest another $20m in Omera Petroleum

July 01, 2020 00:00:00

IFC, a member of the World Bank Group, signed on Tuesday a loan agreement of $20 million with Omera Petroleum Limited (OMERA) to enhance its increasing support to OMERA meet it funding requirements to face challenges caused by the COVID-19 pandemic, said a statement.

IFC's loan to OMERA is its second investment through its COVID-19 fast-track financing support package. The funding will help OMERA-an existing client of IFC and Bangladesh's largest LPG operator in terms of investments, storage and filling capacity, overcome challenges resulting from ongoing limited access to foreign currency. IFC came forward to supports OMERA allowing them to strengthen operations, maintain employment, and access to foreign currency for import of LPG during these challenging economic times.

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