The World Bank's investment arm, the International Finance Corporation (IFC), has extended a EUR 106mn 8-year debt facility to steelmaker Kurum International to help it finance acquisition and upgrade of four recently-bought hydroelectric power plants in Albania , IFC said in a statement. The debt facility includes a EUR 33mn loan for IFC's own account and EUR 73mn of financing syndicated to FMO ( Netherlands Development Finance Company ), Turkish Odeabank, Black Sea Trade and Development Bank , Albanian Banka Kombetare Tregtare and Raiffeisen Bank Albania. Kurum International is a member of the Turkish Kurum Group and the only integrated industrial enterprise involved in iron and steel production in Albania . Kurum won a privatisation tender in January 2013 , offering to buy hydropower plants Ulez, Shkopet, Bistrica 1 and Bistrica 2 for a total of EUR 109.5mn . The aggregate capacity of the plants is estimated at 77MW.
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