Sonker Bunkering Company has secured a $341m financing package for the development of Egypt’s first private bulk liquids terminal at Ain Sokhna port on the Red Sea. The financing consists of a $144m package from the World Bank’s International Finance Corporation, including a loan of up to $70m, $52m mobilised from partners, and $22m in mezzanine financing, alongside a $72m senior loan and $22m mezzanine loan from the European Bank for Reconstruction and Development, and a $72m equivalent loan from the Commercial International Bank, consisting of loans of $28m and the equivalent of $44m in Egyptian pounds, as well as a $30m credit support instrument facility.