The Ibri II solar project financing in Oman, which signed electronically at the end March amid the global economic lockdown, was the second regional project to engage with Saudi Exim for financing. However, while not backed by the Saudi ECA in the end, the project shows the Saudi authorities want to strengthen their ECAs to support exports regionally and internationally – which bodes well for Saudi companies in the coming years.
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A new commodity trader is set to tap the ECA-backed loan market to diversify their fund mix amid the drive to energy transition. The deal marks a continued increase in the use of ECA debt as an instrument in trading houses’ financial toolkits.
TXF will be hosting the 10th Anniversary of its Global Commodity Finance Conference in Amsterdam on 22-23 May 2024, at the Grand Krasnapolsky Hotel, with our black-tie Industry Awards Dinner on the 21st.