Egypt’s state-owned oil refiner Assiut National Oil Processing Company sealed an innovative $1.5 billion ECA-covered loan to back the Assiut oil refinery expansion project last month. The deal has provided a viable financial blueprint for future such projects without a sovereign guarantee to cover the entire financing.
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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.