ADB has approved a new goal to devote 50% of its annual lending to climate finance by 2030 and boost private sector capital mobilization as part of a sweeping strategy update for the rest of the decade.The lender said the new goal is a big jump from the current 35% ambition and comes with a... More

South Korea has approved a $100 million loan for work to commence on the construction of the Techiman Water Expansion and Rehabilitation project in the Bono East Region, Ghana.The Ghana Water Company Limited (GWCL) is carrying out the project, which shoud begin by the end of the third quarter of... More

PetroVietnam Power (PV Power) has closed a $521.5 million ECA-supported financing for its Nhon Trach 3 and 4 power projects, which are set to be Vietnam's first LNG to electricity plants. Citi and ING acted as the joint coordinator and joint MLA. Citi acted as K-Sure agent, global facility... More

Nippon Steel's proposed $14.9 billion takeover of US Steel would create national security risks because it could hurt the supply of steel needed for critical transportation, construction and agriculture projects, the US said in a letter sent to the companies.The letter also cited a global glut... More

Woodside has priced $2 billion of senior unsecured bonds in the US market. The bonds will be issued by Woodside Finance Limited, a wholly owned subsidiary of Australia's Woodside Energy Group, which will also guarantee the bonds. The bond offering consists of $1.25 billion of ten-year... More

The US imposed sanctions on two companies and two vessels linked to Russia's Arctic LNG 2 project, Washington's latest step to add costs on Moscow for its invasion of Ukraine.The Arctic 2 project, 60% owned by Russia's Novatek had been due to become Russia's largest liquefied natural... More

China, Tanzania, and Zambia have signed a preliminary agreement on a significant railway project to improve transportation links in resource-rich East Africa.The Tanzania-Zambia Railway (TAZARA), stretching 1,860km, was constructed from 1970 to 1975 with an interest-free loan from China. It... More

First Majestic Silver is buying fellow Canadian explorer and developer Gatos Silver in an all-share transaction valued at $970 million.The move hands First Majestic a group of high-grade, large silver deposits in the Los Gatos silver district of Mexico’s Chihuahua state. The combination of the... More

MIGA and the International Solar Alliance have unveiled the MIGA-ISA Solar Facility (Facility), a multi-donor trust fund. The facility was catalyzed by the government of India and its support for expanding the access to support renewable energy globally.   The facility will offer... More

IFC has agreed a loan to Indonesian steel producer PT Gunung Raja Paksi (GRP) to advance decarbonization in Indonesia's steel industry.IFC is providing up to $60 million Indonesian rupiah equivalent to GRP, which the company plans to use to expand low-carbon flat steel production using Electric... More

Perpetua Resources expects the US government to approve its antimony and gold project in northern Idaho by the end of the year.Support for the mine, backed by hedge fund manager John Paulson, comes as part of Washington's evolving strategy to offset China's critical minerals sector dominance... More

Saudi Aramco, ADNOC, and Trafigura are among suitors competing to buy Shell’s service stations in South Africa, sources said.The assets have also attracted initial interest from South Africa’s Central Energy Fund, which owns PetroSA, as well as Sasol and Oman’s OQ Trading, the... More

Etihad Rail has signed two MoUs valued at $2.3 billion with Jordan’s transport ministry and local companies to build, operate and maintain a mineral railway network.The company and the Jordanian Ministry of Transport will explore development and operation of a 360km railway network linking the... More

Iraq intends to launch ten gas exploration blocks for investment in a new licensing round.The Oil Ministry plans to offer these gas investment opportunities to American companies. The fifth and sixth licensing rounds included 29 blocks and fields, with contracts awarded on 14.Iraq has started... More

Proparco and Guatemalan microfinance institution Fundacion Genesis Empresarial are partnering via a $20 million loan in local currency.By providing a loan Genesis, Proparco supports the development of this institution’s microcredits portfolio. This is also Proparco's first intervention in... More

Pakistan has requested a loan of $1.75 billion from Islamic Trade Finance Corporation, Islamic Development Bank, and Standard Chartered.The funds will be used for commodity purchases and commercial purposes, with $400 million requested from ITFC specifically for commodity purchases.Additionally,... More

Chinese leader Xi Jinping has pledged over $50 billion in financing for Africa over the next three years. He said the country would deepen cooperation in infrastructure and trade with the continent as he addressed Beijing's biggest summit since the pandemic.Over half of that will be in credit,... More

ADNOC has agreed to take a 35% equity stake in ExxonMobil’s blue hydrogen and ammonia project in Texas.Located in Baytown, the facility could produce up to 900,000 tonnes of hydrogen and over 1 million tonnes of low-carbon ammonia per year. The two companies now expect a final investment... More