World Bank's IFC invests US$15 million in Romanian shipping line

THE World Bank's International Finance Corporation (IFC) will invest EUR12 million (US$15 million) in Transport Trade Services (TTS), a Romanian shipping company, reports Bloomberg News.

The investment in Bucharest-based TTS, with major cargo handling operations in Constanta on the Black Sea, will improve shipping and logistics services, along the Danube, and boost trade in the region, IFC said in an e-mailed statement.