ECA Fundamentals course offered by CC Solutions and TXF
Guest post, CC solutions: CC Solutions, in conjunction with TXF, is pleased to announce it is conducting a one day training session on theFundamentals of ECA Finance. Scheduled just prior to the US EXIM Bank conference in Washington, DC
CC Solutions, in conjunction with TXF, is pleased to announce it is conducting a one day training session on the Fundamentals of ECA Finance. Scheduled just prior to the US EXIM Please wait... Bank conference in Washington, DC, the course will be held on 23 April and is designed to provide attendees with critical, in-depth knowledge of ECA financing. Joining us in teaching the class will be Steven Mayo, Director of Business Development at US EXIM in the Project and Structured Finance Department, and Carolina Walther-Meade, Partner, Project Finance at Milbank Please wait... . The topics are comprehensive, ranging from comparing ECA products and mandates across a spectrum of agencies to techniques for calculating and maintaining eligible procurement throughout the life of the loan. We will also delve into credit agreement fundamentals and methods for streamlining loan disbursement administration. Please join us in Washington and also forward this announcement to colleagues who may benefit from learning more about ECA financing. We know your experience at the US EXIM conference will be enhanced having attended the seminar and you will take home valuable reference materials.
Reliance Industries Please wait... (RIL) has once again tapped the ECA market for long term, low cost financing. Export Development Canada Please wait... (EDC) has approved a USD 500 mm facility in support of RIL's purchases of specific Canadian goods and services. RIL has a strong history of buying hydrocarbon sector equipment from over 50 Canadian companies and is planning to expand its relationships with other Canadian companies in support of its telecom rollout. Over 33% of the Canadian companies qualify as small and medium sized enterprises.
Israeli geothermal giant, Ormat Please wait... , in conjunction with co-developers, has secured a mega-financing for the Sarulla project in Indonesia. Financing from JBIC Please wait... (USD 492mm), Asia Development Bank (USD 350mm) and a consortium of lenders (SocGen, SMBC Please wait... , Mizuho Please wait... , BTMU Please wait... , ING Please wait... and National Australia Bank Please wait... ) total over USD 1.7 billion. The project will replace coal and fossil-fuel fired plants and reduce Indonesia's carbon footprint by 1.3mm tons of CO2 annually.
The Middle East and North African countries (MENA) anticipate substantial power development between 2015-2019. With over 150GW in planned new installed capacity (of which > 43% will occur in the GCC), the investment value is a staggering USD 315 billion. Constraints to development include access to sufficient fuel supply and funding. Despite robust local market liquidity, the magnitude of the development suggests a substantial role for export finance. Citibank Research reports that throughout the region, total mega-project development exceeds USD 1.4 trillion in projects under exception and another USD 1.1 trillion in advanced development. Saudi Arabia alone boasts over 30% of this regional spend program. Leading the development market is real estate investment followed by transportation projects, oil & gas, power & water, general industrial development and finally petrochemicals. A traditional region for ECA financing appears poised to continue the trend.
Iraqi Airlines is expected to tap USD 1.5-2.0 bn in US EXIM Bank financing to purchase Boeing Please wait... airliners. Citibank is advising.
The World Bank Please wait... 's Chairman Jim Yong Kim announced increased funding by about 40% per year from USD 40-50bn annually to over USD 70 billion. As part of the World Banks realignment, the added capital will focus on the 10 countries that have 80% of the world's poorest residents living on less than USD 1.25 per day. Included in this list are India, China, Bangladesh and Democratic Republic of the Congo. Kim is quoted by The Globe and Mail that the IBRD (the International Bank for Reconstruction and Development Please wait... ) will USD 100 billion, boosting funding for middle income countries.