Arab Finance: Orascom Development Egypt (ODE) has signed an agreement with the International Finance Corporation (IFC) to secure a loan worth $155 million, according to press release .

The loan will be used to refinance part of the company’s existing debt and fund potential growth opportunities for the hotel business in El Gouna.

The loan facility has a grace period of 2.5 years and a tenor of 8.5 years, with semi-annual repayment to commence in the second half of 2027.

The financing terms offers interest margin at 3.8% for the dollar portion and 3.87% for the euro portion.

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