Copying and distributing are prohibited without permission of the publisher
MENA’s new capex landscape
22 October 2009
With pure project financing in the MENA region at historically low levels,ECA-backed export financing has moved in to fill the gaps. Naomi Christie surveys the key players in this new economic landscape.
Read more:
Middle East capital equipment finance
capex MENA
ECA Middle East
Saudi Arabia infrastructure
DEWA
SEC export credit
JBIC Saudi Arabia
EDC Gulf
This year we have seen billion-dollar deals such as Dubai Electricity and Water Agency (Dewa) taking up export credit agency (ECA) backed financing. Many corporates in the Middle East and North Africa (MENA) are taking up the ECA option for the first time, presenting a new financial terrain for capital equipment financing to explore.
“ECAs and DFIs [development finance institutions] have become the first port of call for most major capex and infrastructure projects,” says Emre Umut, vice president of export and agency finance group, EMEA, Citi. This reflects a theme evident across export finance banking in the MENA region.
In addition, North Africa sees not only a strong European ECA presence, but an increasing interest from Chinese banks, more commonly associated with the sub-Saharan part of the continent. The Middle East has not traditionally dealt with ECA financing on such a large scale, as there has usually always been...
You must be logged in to view this page. If you are already a registered user please log in. Alternatively, you can request a free trial or subscribe.
Already have an account?
Subscribe
Subscribers have unlimited access to all current and archive content. Start your
subscription today - click on the button below.
Free trial
Taking a free trial will give you access to the latest news and analysis for two days
(excluding some surveys and articles). Start your free trial today.
