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