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Consortium of eight banks provided the loan and facility contains 'rendevous' clause for switch to green purpose loan
Paul Gibbs among those departing the firm after long service
More robust growth expected in 2026
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Bilateral investment from rising powers such as China, Russia and Saudi Arabia has been gratefully received by needy nations such as Pakistan but the inflow of new money threatens to make the IMF look less relevant just as the multilateral has acquired a new boss
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Investors who have been pushing banks to clean up their act for years have welcomed the new Principles for Responsible Banking. But the real test will be action, not words
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Investors have hailed the new ethics code for banks, the UN Principles for Responsible Banking, as an important advance in making banks more sustainable. But they want to see the fine words lead to action — above all, real decarbonisation.
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Capital markets have long been unattractive funding routes for UK local authorities as the Public Works Loan Board — a government body that provides loans to public bodies — has offered lending levels that public and private markets could not compete with. But a recent Treasury announcement may have tipped the scales in PP players' favour. -
Ghana’s minister of finance has called on global pension funds to help meet Africa’s vast infrastructure need, easing the funding burden which has seen several African countries load up on unsustainable levels of expensive dollar debt
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The new African free trade zone that will remove tariffs on 90% of goods should stimulate growth on the continent, according to African financial leaders. But there are fears it could create winners and losers
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