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President Energy receives first payment under IFC investment

Last updated: 17:54 18 Dec 2013 AEDT, First published: 18:54 18 Dec 2013 AEDT

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President Energy (LON:PPC) has received the first £9.375mln cash injection from the World Bank’s International Finance Corporation (IFC) 

This is the first payment under the £15mln investment agreed with the IFC in September, and the remainder is scheduled to follow next year.

The cash is to be invested by President into its projects in Paraguay.

The IFC is buying 37.5mln new President Energy shares via the initial investment, and it will subsequently own 12.2% of the AIM quoted group’s shares.


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