IFC Inks Colombia Deal

The IFC has signed agreements with Kappa Energy Colombia, a subsidiary of oil and gas group Kappa Energy Holdings for a debt facility of $20m and the option for an equity investment of up to $10m to support its continued growth. Kappa has been operating in Colombia since 1997 and holds exploration and production licenses. IFC’s total portfolio in Colombia as of December 2006 was over $500m.