AIM-listed property developer Raven Russia has signed a $ 53mln loan facility agreement with the International Finance Corporation (IFC), part of the World Bank Group. The company, which focuses on warehouses in Russia and Ukraine, said the facility will be used to finance the construction of 85,000 m[sup]2[/sup] of new warehousing space as well as to refurbish an existing 16,000 m[sup]2[/sup] warehouse facility as part of its Kalyinivka Logistic joint venture project in Kiev, Ukraine. The loan, with a term of seven years, comprises IFC's committed funds of $28.5mln with the remaining $25mln currently being syndicated.
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