Nord Stream, a 1,200km gas pipeline project running from Russia through the Baltic Sea to Germany, is looking to raise the first phase of financing in Q3, raising US$3.5bn.
Project Finance
On June 16, the board of the World Bank approved a US$1.02bn credit for four major projects in Nigeria.
Vnesheconombank (VEB), Russia's State Corporation Bank for Development and Foreign Affaris, and the China State Development Bank (CSDB) entered into a credit agreement for an amount of US$310mn on June 14.
A consortium of around 20 companies, including Munich Re, Siemens, RWE and Deutsche Bank, plans to build a €400bn (US$555.3bn) solar power project in Africa, a Munich Re executive told a German newspaper on Tuesday.
Saudi Arabia’s Jabal Omar Development Company has terminated a contract with the local investment bank Jadwa Investment to raise SR12.2bn (US$3.3bn) to finance the development of a real estate project in Mecca.
The EBRD plans to increase the limits on its trade facilitation programme (TFP) from €800mn to €1.5bn for participating banks, to help them cope with the tightening credit conditions caused by the global recession.
Eastern Europe is facing a severe recession, but not a collapse, according to Thomas Mirow, president of the EBRD.
On November 22, Qatar opened its Museum of Islamic Art, in a stunning building designed by I.M. Pei. It was the latest salvo in the multi-billion-dollar competition for the title of cultural capital of the Gulf.
Investors in Mongolia say the country’s lively but fractured political landscape is putting the economy at risk and holding back significant investments by foreign multinationals.
Multilateral development bank hires former World Bank VP to oversee policy.
Corporate, banking and finance lawyer joins firm’s affiliated Turkish practice.