Middle East Economic Survey
Energy Project Finance Outlook Uncertain For 2009
This time last year there were concerns that the US subprime mortgage crisis would threaten the supply of funding to the energy project finance sector in 2008, and these fears have now been realized. Contagion has spread through the market, bringing interbank lending to a standstill and causing the collapse of 158-year old US investment bank Lehman Brothers. Lending to virtually...