Deal Round-Up: The Asian Development Bank approves US$500 million loan for housing in Uzbekistan

8th June 2017 Jack Aldane
  • The Asian Development Bank has approved a US$500 million loan for the construction of housing in Uzbekistan
  • In addition, the ADB, alongside India’s state-owned Punjab National Bank (PNB), signed an agreement for a US$100 million loan from the development bank to finance solar rooftop systems on industrial and commercial buildings
  • European Bank for Reconstruction and Development (EBRD) has meanwhile approved a US$ 500 million framework to finance renewable energy in Egypt
  • The EBRD is also extending a €20 million loan to expand Teklas Kauçuk Sanayi ve Ticaret A.S., a Turkish automotive supplier
  • Finally, EBRD is extending a loan of €115 million equivalent to Polish power company PGE Polska Grupa Energetyczna SA to turn its grid into a modern network as Poland electricity sector grows
  • Sri Lanka’s Sanasa Development Bank PLC (SDB bank) has secured a private placement deal of US$22 million from the Dutch development bank FMO, the International Finance Corporation, and Japanese financial services firm SBI Holdings. The deal will expand its capital base to meet regulatory requirements
  • Proparco has signed a €25 million loan for the development of two airports in Madagascar: both Antananarivo and Nosy Be. The loan is expected to rehabilitate and modernise both sites to cope with a threefold increase in regional air traffic over the last 15 years
  • The World Bank and IFC have joined to invest in PRICO, a company organised under the laws of the West Bank Palestinian Territories, for a 7-megawatt solar energy project providing the Gaza Industrial Estate with domestic power. IFC will invest US$8 million, comprising an A Loan of up to US$4 million, and a senior concessional loan of up to US$4 million
  • The IFC also announced it invested US$45 million in the Bank of Georgia’s first local-currency bonds intended to be sold outside the country to attract investment in the country’s private sector
  • SIMEST, Italy’s development finance institution, has meanwhile funded 23 Italian firms with a total of €6.7 million for business operations in 11 developing countries. These include Albania, Brazil, China, Colombia, and Mexico.

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