IFC provides $150m loan to assist BMW SA’s production plans

The International Finance Corporation (IFC), a member of the World Bank, will assist in financing BMW Group South Africa’s (BMW SA’s) R6-billion investment in its Rosslyn plant, set to produce the new BMW X3. The $150 million loan comes as South Africa “seeks new sources of economic growth after a period of slowdown, driven in part by sluggish mining and manufacturing sectors”, says the IFC in a statement.