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IFC invests in China’s paper industry


December 13, 2004
By Pulp & Paper Canada

For $12.9 million US, the International Finance Corporation of the World Bank Group purchased 7.5% of the shares of…

For $12.9 million US, the International Finance Corporation of the World Bank Group purchased 7.5% of the shares of the Jiangxi Chenming Paper Company. The transaction has provided the company with a fund amounting to $72.9 million US. It’s the first time the IFC has made an investment in China’s paper industry, noted Feng Guitang, deputy director of East Asia and Pacific’s IFC.

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