Financial and Banking News


ABC Wins Turkish Dam Mandate

Arab Banking Corporation (ABC) has won the mandate to arrange a $233mn co-financing deal with the World Bank for Turkey as part of the financing of a $738mn project to construct a 420MW hydroelectyric dam at Kayraktepe on the Goksu River in the south-east of the country. The total cost of the project is being raised from four sources: $233mn from the ABC/World Bank loan, $188mn from the Turkish government, $200mn...