Deal Round-Up: New Development Bank lends BNDES US$300 million for energy projects

11th May 2017 Steve Hoare
  • The New Development Bank extended a US$300 million loan to Brazilian development bank BNDES for at least five renewable energy projects.
  • The International Finance Corporation (IFC), the World Bank’s private sector arm, plans to lend US$70 million to Baynouna Solar Energy Company with another US$155 million mobilised from various sources. The company has appointed Abu Dhabi’s Masdar to develop a solar photovoltaic plant in Amman in Jordan.
  • The European Bank of Reconstruction and Development (EBRD) has also been active in the solar sector. It signed a memorandum of understanding with Albania’s government to develop solar power projects in the country with an auction-based system.
  • IFC is providing a loan of US$150 million to South Africa’s FirstRand Bank to help small and medium enterprises in the country and US$150 million to India’s Bajaj Finance for the same purpose.
  • SMEs will benefit from the EBRD’s €10 million trade finance agreement with Alpha Bank Cyprus  unveiled at this week’s Annual Meeting in Nicosia.
  • IFC is providing debt finance of US$40 million to help Aavas Financiers build affordable housing in Rajasthan and five other Indian states.
  • The China Development Bank will lend US$300 million to Iran’s Tejarat Bank to finance the projects of the Telecommunications Company of Iran.
  • The Islamic Corporation for Development of the Private Sector has teamed up with Bahrain’s wholesale Islamic investment bank Ibdar Bank and Labour Fund Tamkeen to launch the US$100 million Bahrain SME Fund.
  • Finally, the Japan International Cooperation Agency has extended a US$24 million loan to the government of Pakistan to enhance the reliability of the Islamabad-Burhan transmission line.


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