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Covid-19: IFC to infuse $35 mn in JK Paper to fund its working capital need

The proposed IFC infusion would fund the incremental working capital requirements due to the impact of Covid-19

Topics
International Finance Corporation | IFC | Coronavirus

T E Narasimhan  |  Chennai 



funding
The IFC investment is in the form of secured non-convertible debentures (NCDs) of up to Rs 2.6 billion ($35 million equivalent).

The (IFC), the investment arm of the World Bank, is planning to support Limited's (JKPL's) working capital requirements by infusing nearly $35 million in the company. The infusion will help the company address liquidity constraints in the midst of the (Covid-19) crisis.

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First Published: Sat, May 30 2020. 10:45 IST

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