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US Congress gives DFC green light for 125-million-dollar loan to Elefsis Shipyards

According to an announcement by ONEX, a special law was "passed" in Congress two year ago with the support of both the Democratic and Republican parties in order to allow this loan.

The US Congress approved the plan of the US International Development Finance Corporation (DFC) to proceed with a 125-million-dollar loan to ONEX Shipyards for the rehabilitation of the Elefsina Shipyards.

The amount was increased from the 102 million dollars that was initially foreseen, while the DFC Board of Directors has already completed all internal procedures for the approval of the loan since mid-May.

According to an announcement by ONEX, a special law was “passed” in Congress two year ago with the support of both the Democratic and Republican parties in order to allow this loan.