Joint venture with Korean companies to construct petrochemical plant.
Project Finance
MENA development bank Apicorp is following a record performance in 2010 with a new emphasis on diversification in its projects and fund raisings, moving into new sectors and tapping new capital markets.
The timing couldn’t be better; political turmoil across the region and the withdrawl of some global banks has created a funding gap for energy-related project financings, and the bank’s assistance is needed more than ever.
Chief executive Ahmad Bin Hamad Al-Nuaimi told EMEA Finance about the bank's new strategy during his recent visit to London.
Project will increase Middle East’s access to renewable energy.
The European Bank for Reconstruction and Development has partnered state-owned Sberbank on a project finance deal for the first time to help build Europe’s largest integrated PVC plant.
The banks joined a syndicate that committed €750mn to build the plant in the town of Kstovo in the Nizhny Novgorod region of Russia. The loans matched the investment made by Russian petrochemical company SIBUR and a subsidiary of Belgian industrials group Solvay, which formed RusVinyl to develop the project.
Two projects in Kenya have become the first carbon forestry initiatives to be verified by the Climate, Community & Biodiversity (CCB) standard.
Two power plants to be built following €34.4mn loan.
Bank joins project developer to help smaller companies access carbon markets.
Carbon finance must support more industries in fighting climate change, claims Andrew Steer, the World Bank’s special envoy on climate change.
Speaking at the Carbon Expo conference in Barcelona, attended by EMEA Finance, he said interest in developing cleaner transport systems, for example, is evident – particularly in the emerging world.
EIB leads development banks in supporting Mooi-Mgeni.