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AIIB lends Beijing Gas Group $250m for pipeline projects
11 December 2017

The Asian Infrastructure Investment Bank has approved its first loan in China - $250 million to utility company Beijing Gas Group for pipeline projects in the nation's capital. The announcement came amid surging demand for gas in the country.

EIB: Largest ever support in Ireland backs new children’s hospital
11 December 2017

The European Investment Bank (EIB) is to provide a €490 million loan to support construction of the new children's hospital in Dublin. It represents the largest ever financial engagement by the EIB in Ireland and its first backing for a hospital in the country.

KfW finances solar energy production in India
11 December 2017

German development bank KfW has signed a €150 million loan deal with the State Bank of India to help finance the conversion of India's power supply towards more renewable energy sources. The loan, the first of two planned credit lines, will refinance sub-loans to install solar power systems.

AfDB agrees $100m to Guinea bauxite mine, railway refurbishment
11 December 2017

The African Development Bank (AfDB) has agreed a $100 million loan to develop a bauxite mine in northwest Guinea. The money will help construct a new mine operated by Guinea Alumina Corporation, a subsidiary of Dubai-based Emirates Global Aluminum, by 2020 with annual production capacity of 12 million tonnes of bauxite. It will also finance a new container terminal in the port city of Kamsar and the refurbishment of a 143km railway to the port from the mine in the town of Boke.

FMO, Proparco lend $30m to BPR to serve more SMEs
11 December 2017

 FMO and Proparco have each loaned $15 million to Banque Populaire du Rwanda (BPR). BPR is to use the funding to support small and medium-sized enterprises (SMEs) by increasing the number of branches it operates in urban and rural areas of Rwanda.

AfDB agrees loans for renewable projects in Morocco and Ivory Coast
8 December 2017

The African Development Bank (AfDB) has approved $324 million in loan support to two renewable energy projects in Morocco and Ivory Coast. In Morocco, the bank's commitment of $265 million will help develop two solar power plants (NOORM I and NOORM II). In the Ivory Coast, the Singrobo-Ahouaty project involves the design, construction and operation of a 44MW hydropower plant on the Bandama River.

Japan could still join China-led AIIB, says Shinzo Abe ally
8 December 2017

Japan could consider joining China's Asian Infrastructure Investment Bank (AIIB) if it makes some changes. "One issue would be cooperation with the Asian Development Bank, which is led by Japan," said Yoshihisa Inoue, secretary general of Japanese Prime Minister Shinzo Abe's junior coalition partner, Komeito.

EIB agrees €100m financing to boost mobile broadband in Spain and Italy
8 December 2017

The EIB has agreed a €100 million financing with Cellnex Telecom to improve and expand the capacity of mobile broadband telecoms infrastructure in Spain and Italy. The funds will back construction of new telecoms towers as well as fibre optic and radio link connections to mobile operator networks.

ADB agrees $364m to upgrade state highways in Karnataka, India
8 December 2017

The Asian Development Bank has approved a $346 million loan to upgrade highways in the Indian state of Karnataka. The project will improve 419km of road, upgrading them to two and four-lane widths with paved shoulders, depending on traffic needs, and improving culverts and bridges.

ADB provides $330m to Afghanistan to complete national ring road
7 December 2017

The financing will support the construction of 151km of road connecting the towns of Qaisar and Dari Bum in northwestern Afghanistan. The road is the last section of the 2,200km ring road that connects Afghanistan's major cities.

Myingyan: Plugging Myanmar's power gap
Myingyan: Plugging Myanmar's power gap
Max Thompson
7 December 2017

The Myingyan IPP financing – Myanmar’s debut in the project finance market – has set the blueprint for future deals. But considerable regulatory change is still needed to move the market from DFI-backed projects to pure commercial bankability.

Serbia to upgrade railway maintenance depot with EBRD loan
7 December 2017

The EBRD is providing loans worth a total of €47 million to the Serbian railway passenger operator JSC Srbija Voz to finance the expansion and upgrade of a maintenance depot in Zemun on the outskirts of Belgrade.

Israel, Cyprus, Greece and Italy sign MoU for Eastmed pipeline
7 December 2017

The governments of Israel, Cyprus, Greece and Italy have signed a quadrilateral MoU for the development of the €6 billion Eastmed Pipeline project to connect Israel's Leviathan gas field to Europe via a 2,000KM pipeline. Joint venture company IGI Poseidon, set up by Greece's DEPA and Italy's Edison, will develop the project with EU backing.

Russia-Japan investment fund reveals first transactions
7 December 2017

The Russia-Japan Investment Fund - launched by the Russian Direct Investment Fund and Japan Bank for International Cooperation - has invested in the Russian pipeline operator, Transneft, the infrastructure through which up to 85% of the oil produced in Russia, and 26% of oil products, are transported.

KfW head Ulrich Schroeder to quit at the end of 2017
7 December 2017

Ulrich Schroeder, the head of German development bank KfW, will quit at the end of December due to illness, according to reports. The 65-year-old had his contract extended until 2020 two years ago but has decided to leave early. He has run Frankfurt-based KfW since September 2008.

Romanian waste-oil recycling facility wins EBRD and BCR support
7 December 2017

The EBRD and Banca Comerciala Romana are providing Romanian company Green Oil and Lubes with a $38.7 million club loan for the development, construction and operation of a recycling plant for waste lubricant oils. The financing is part of a $56 million investment programme by the company.

New EBRD financing to Turkey’s İşbank supports renewable energy projects
7 December 2017

The EBRD is providing İşbank, Turkey's largest private bank, with $55 million in financing to support small-scale renewable energy and resource efficiency projects in the country. The funds are extended under the EBRD’s renewed Turkey Sustainable Energy Financing Facility 

World Bank agrees $1.15bn loan to Egypt
7 December 2017

The World Bank has approved $1.15 billion in a development policy financing loan to support Egypt's economic reform programme. The loan supports Egypt's home-grown inclusive reforms aimed to power job creation, ensure energy security, strengthen public finances, and enhance business competitiveness, especially for micro, small and medium-sized businesses.

Joining hands for a brighter future, GE and Chinese partners along the Belt and Road
6 December 2017

Since the launch of China's Belt and Road initiative, GE and its China EPC partners have been exploring expanded opportunities in developing countries as well as growing their businesses. Doors have opened wide in scores of African, Middle East, Europe and Asian countries.

ADB supports Reliance LNG terminal, power project in Bangladesh
6 December 2017

The Asian Development Bank has approved debt financing and partial risk guarantees worth $583 million to develop the Reliance Bangladesh Liquified Natural Gas (LNG) and Power Project. The project includes a power generation facility in Meghnaghat, near Dhaka, and an LNG terminal near Kutubdia Island south of Chittagong. The total project cost is about $1 billion.

Barclays Africa, CDB sign agreement to fund development projects in Africa
6 December 2017

China Development Bank and Barclays Africa Group Limited have signed a memorandum of understanding aimed at funding development projects in Africa. Given CDB's focus on infrastructure finance for roads, railways and dams, Barclays Africa will leverage the MoU to unlock opportunities in order to strengthen its contribution towards Africa's economic growth and development.

ADB agrees $400m to back Azerbaijan's rail sector, improve North-South Railway Corridor
6 December 2017

The Asian Development Bank has agreed two loans worth $400 million to help strengthen Azerbaijan's railway sector and modernize the Sumgayit-Yalama rail line. ADB will provide $250 million as a policy-based loan to improve rail service in the country, and another $150 million to rehabilitate 166km of double-line main track on the North-South Railway Corridor.

IFC provides €140m for tramline in Antalya
5 December 2017

The International Finance Corporation will provide a €140 million package to finance a new tramline in Antalya, Turkey. The city will add 18km of track and 29 stations to its urban rail transit system.

Engie Consortium wins wind farm project in Egypt with JBIC financing and NEXI backing
4 December 2017

French energy company Engie said it won a contract from the Egyptian government to develop a 250MW wind farm in Ras Gharib area on the Gulf of Suez. Engie's deal will be together with its consortium partners Toyota Tsusho Corporation/Eurus Energy Holdings Corporation (40%) and Orascom Construction (20%). The total investment for the project is likely to hit $400 million, with financing from the Japanese Bank for International Corporation (JBIC) in coordination with SMBC and Societe Generale. The Japanese export credit agency NEXI is providing an insurance cover for the commercial lenders.

EPS agrees loan for Kostolac wind farm in Serbia
4 December 2017

Serbian state-owned utility ElektroprivredaSrbije (EPS) has signed a €80 million loan agreement with the German development bank KfW to construct a 66MW wind farm at the site of its TE-KO Kostolac coal mine. The 15-year loan has a 4-year grace period with an annual fixed interest rate of 0.85%.

EIB grants loan to Raiffeisenverband Salzburg
4 December 2017

The European Investment Bank (EIB) is granting Raiffeisenverband Salzburg (RVS) a loan of €38 million. This transaction will provide RVS with long-term funding resources for SMEs and midcaps, in particular for the financing of small and medium-scale infrastructure, construction and renewable energy projects.

NIB lends for municipal investments in Tartu, Estonia
4 December 2017

Nordic Investment Bank and the City of Tartu in Estonia have signed a €20 million loan agreement with a tenor of up to 20 years to finance municipal investments in road infrastructure and education institutions. It includes an €8 million investment in debt securities issued by the City of Tartu with a maturity specified in the issue, and a €12 million loan facility at the city's disposal with a maturity of up to 20 years.

AfDB loans €150m for development of 420-MW Nachtigal hydro in Cameroon
4 December 2017

The African Development Bank has approved a $178.3 million loan to help finance development of the 420MW Nachtigal hydro power project in Cameroon. Nachtigal will be a run-of-river plant on the Sanaga River jointly designed and developed by the Republic of Cameroon (30% stake), EDF International-Electricite de France (40%) and the International Finance Corporation (30%).

Lamu-Isiolo road PPP concession awarded
1 December 2017

Kenya National Highways Authority (KNHA) and the Lamu Road Consortium (comprising Group Five Proprietary Ltd, a South African group of investors and D...

EBRD joins IFC on Olvia and Kherson ports PPP
1 December 2017

The Ukrainian government and the EBRD have signed an agreement that mandates the bank’s Infrastructure Project Preparation Facility (IPPF) to work with IFC PPP Advisory team on the development of PPP projects for the Black Sea ports Olvia and Kherson.

Myingyan IPP loan meets conditions precedent
30 November 2017

Sponsors of the $300 million 225MW gas-fired Myingyan IPP project in Myanmar – Sembcorp (80%) and MMID Utilities (20%) – have met conditio...

Kenya set to build coast-to-centre highway to boost Africa trade
30 November 2017

Kenya has signed a $620 million agreement to build a 530km highway from its east coast to the centre of the country, part of a campaign to boost its role as a regional trade hub. A consortium including a unit of South Africa's Group Five and the Development Bank of Southern Africa with work with the state.

EIB agrees its first loan to Afreximbank
30 November 2017

The European Investment bank has signed its first agreement with the African Export-Import Bank (Afreximbank). The agreement involves a finance facility for €100 million from the EIB and will fund trade-related investments and projects in Sub-Saharan Africa.

EBRD launches €300m NPL resolution framework
30 November 2017

The European Bank for Reconstruction and Development is launching a €300 million framework to support efforts aimed at resolving high levels of non-performing loans (NPLs). The facility will allow the Bank to acquire minority stakes in NPL servicers, invest in NPL portfolios and provide senior debt instruments to co-investors for the purchase of NPL portfolios.

Kigali Water PPP reaches financial close
29 November 2017

Financial close has been reached on the $60.8 million Kigali Water Limited (KWL) PPP project in Kanzenze, Rwanda - claimed to be the first compet...

EBRD agrees loan for wind farm in Jordan
29 November 2017

The European Bank for Reconstruction and Development is providing a $52 million loan for the construction and operation of a 45MW wind farm in the Shobak region of Jordan. The loan will be provided to Shobak Wind Energy PSC, a company majority owned by UAE-based Alcazar Energy Partners.

ADB agrees $500m facility to improve rural roads in Indian states
29 November 2017

The multitranche financing facility for the Second Rural Connectivity Investment Program will improve rural roads in Assam, Chhattisgarh, Madhya Pradesh, Odisha, and West Bengal.

TFF 2.0: What do the banks make of it?
TFF 2.0: What do the banks make of it?
Hesham Zakai
28 November 2017

In June, the EIB launched its upgraded Trade Finance Facility 2.0 – to enable Greek banks to ramp up support for SMEs and Midcaps. TXF caught up with international and domestic Greek lenders to find out their responses to the revamped product.

Asian Development Bank to provide $20bn loan to India over five years
28 November 2017

Asian Development Bank is to raise annual funding to India to up to $4 billion from existing $2.7 billion, from next year. Annual sovereign funding will increase from $2 billion to $3 billion while private sector funding would be doubled to $1 billion.

Metito reaches close on Kigali Water PPP

Metito subsidiary Kigali Water Limited has reached financial close on the $60.8 million Kigali Bulk Surface Water Supply PPP project in Rwanda - a 27-year BOT concession to provide potable water for the Water & Sanitation Corporation of Rwanda. The project is the first competitively tendered water concession in Sub-Saharan Africa. Mandated lead arranger Emerging Africa Infrastructure Fund (EAIF), a member of the Private Infrastructure Development Group (PIDG), and the African Development Bank are providing $38 million of 18-year senior debt and $2.6 million of junior debt. The capital cost balance will be provided by Metito as equity. The project also benefits from a $6.25 million grant from PIDG’s Technical Assistance Facility (TAF).

IFC, KfW, OeEB renew $310m in commitments to Microfinance Enhancement Facility
28 November 2017

The International Finance Corporation, German development bank KfW and Austria's OeEB have renewed $310 million in commitments to the Microfinance Enhancement Facility, which was established in 2009 to provide liquidity to struggling microfinance institutions.

$2.7bn Nacala logistics corridor financing signed
28 November 2017

Brazilian miner Vale and Mitsui have signed a $2.73 billion project financing for the Nacala logistics corridor - a railway system connecting the Moatize coal mine to the Nacala port in Mozambique. The 14-year debt comprises a $1.03 billion direct loan from JBIC; a $1 billion NEXI-covered tranche from SMBC, BTMU, Mizuho Bank, Sumitomo Mitsui Trust Bank, Nippon Life Insurance and Standard Chartered; a $400 million ECIC-covered loan from ABSA Bank, Investec, Rand Merchant Bank and Standard Bank; and $300 million from the African Development Bank (AfDB).

NIB and Volvofinans Bank sign new loan programme for SMEs in Sweden
28 November 2017

Nordic Investment Bank and Volvofinans Bank AB have signed a €51 million loan facility for onlending to Swedish SMEs to finance the acquisition of commercial vehicles. The seven-year loan facility will finance investments in trucks, trailers, vans and busses from car and truck dealers associated with Volvofinans Bank in Sweden.

Afghan solar plant wins ADB backing
27 November 2017

The Asian Development Bank is to provide $45 million to fund Afghanistan's first 20MW solar power plant in a bid to meet rising energy demand in a country that imports most of its electricity. It will be built in the Naghlu area of Kabul's Surobi district.

Is Pakistan China's Venezuela?
27 November 2017

Beijing's frenzied drive to create a modern Silk Road puts Pakistan front and centre, much as Venezuela was once a target of lending by China Development Bank as the nation sought to secure oil supplies. Of the $6 billion to $7 billion of current development projects in Pakistan as part of the China-Pakistan Economic Corridor, Beijing has provided the bulk of financing - local funding amounts to just $470 million.

6th of October Dry Port PPP roadshow launch
27 November 2017

Mazars will be roadshowing Egypt's 6th of October Dry Port PPP on 29 November in London. The project involves construction of th...

JICA agrees US dollar-denominated loan to Jamaica energy scheme
27 November 2017

Japan International Cooperation Agency has signed a loan agreement with Jamaica to provide a Japanese ODA loan of up to $15 million for the Energy Management and Efficiency Programme. It will be the first US dollar-denominated loan that JICA has made. The program will introduce energy-saving technology and equipment in public facilities throughout Jamaica.

RenovAr 2 bids opened
27 November 2017

Argentina's Ministry of Energy and Mining announced the opening of economic bids for the 1.2GW RenovAr 2 renewables tender last week. The lowest bid received in the wind sector was $37.30 per MWh and the lowest bid for solar was $40.44 per MWh. The average Round 2 prices for wind and solar were $47.64 and $48.67 per MWh, respectively. For wind that is a fall of 31.5% compared to Round 1 and 12.1% compared to Round 1.5, while for solar the drop is 36.2% from Round 1 and 13.2% from Round 1.5. Of around 9.4GWs of bids received, 7.5 GW have been qualified to remain in the competition. The results will be announced on November 29.

KfW helps Iraqi reconstruction with €45m loan
24 November 2017

German development bank KfW has signed a first €45 million loan to finance substations, power lines and pylons to restore electricity supply to the greater Mosul area in Iraq. Deliveries of the first power lines, substations and spare parts are expected to arrive from February 2018 onwards.

BNDES disbursements drop 20%
24 November 2017

Brazilian development bank BNDES saw a 20% drop in disbursements from January to October 2017 to $17.20 billion, compared to the same period last year. Total approvals stood at $16.98 billion, which represented a decline of 13% between January and October 2017.