Africa Loans
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The Islamic Development Bank has agreed to two financing arrangements with Burkina Faso for a total of $121m.
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The Islamic Development Bank has agreed $170.6m of financing for Cote d’Ivoire to fund development projects. -
Three Egyptian banks are set to sign an Islamic financing facility for the Eastern Sugar Company worth E£1.5bn ($217m).
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The Islamic Development Bank (IsDB) has signed a set of loan agreements worth $747m to fund development projects in several member countries and to Muslim communities in non-member countries.
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Three Egyptian banks are set to complete Egypt’s largest Shariah-compliant financing facility to the Egyptian Steel Company for E£1.7bn ($243m).
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The Islamic Development Bank has approved a financing agreement for an agricultural project in Mali worth $23.7m.
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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.
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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.
