Africa Loans
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Nigeria’s government is seeking a $450m loan from the Islamic Development Bank to expand a power transmission system which it said will generate up to 20,000 megawatts of electricity. -
The Islamic Development Bank has pledged $789.4m to finance projects in eleven of its member countries as well as education for Muslim communities in three others.
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The Islamic Development Bank (IsDB) has signed a $300m Shariah-compliant financing for Egypt.
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The Dubai office of international law firm Norton Rose has advised a syndicate of fourteen banks in relation to a senior unsecured US$900 million syndicated facility for First Gulf Bank PJSC (FGB). The facility is the largest loan market transaction undertaken by a financial institution in the UAE this year and is to be used by FGB for its general corporate purposes, including the expansion of its existing operations as well as its growing global footprint.
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Abu Dhabi and its companies were the centre of attention for Middle East investors this week, after it emerged that the emirate’s authorities recently approved a new policy to rein in borrowing by its deeply indebted government related entities.
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London, 26th September 2012: Bank of London and The Middle East plc, Europe’s largest Islamic bank, announces a significant senior secured transaction with Greenergy Biofuels Limited. BLME acted as lead arranger, with BLME and a Qatari-based bank having equal stakes. The facility is secured against the assets of a biodiesel plant in Immingham, Humberside, UK.
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Source: Tegara Net A banking consortium clinched a deal to arrange EGP 300 million Islamic financing for Emaar Misr, which will go for repaying the developer's outstanding liabilities.
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Source: Nation Multimedia Group Public Company Ltd.
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Source: Center for Aviation Industry
