Middle East Economic Survey

VOL. LII

No 39

28-Sep-2009

ECAs Still Essential For MENA Project Finance

The use of export credit agencies (ECAs) in project finance across the globe has jumped this year in response to the dramatic pull-back of international banks. The latter had provided the bulk of funding to MENA projects over the previous several years, but have been severely constrained by the financial crisis since Lehman Brothers collapsed about a year ago. Deals completed so far this year have...