Perspective
13 August 2019
Al Dur 2: A Saudi nightmare on ECA street
In:
Infrastructure, Power, Waste and water
Region:
Middle East & Africa
The $1.5 billion Al Dur 2 independent water and power project (IWPP) financing achieved a record length tenor for an uncovered local bank tranche, an indirect benefit of ECA support. But according to sources close to the deal, Saudi Exim’s direct loan debut proved a ‘nightmare’ to structure.
