Middle East Economic Survey

VOL. LI

No 21

26-May-2008

YEMEN

YLNG Signs Yemens First Project Financing Deal

By Melanie Lovatt in Paris

Yemens first major project financing was signed on 19 May when Yemen LNGs sponsors secured $2.8bn in loan facilities from lenders, despite approaching the market in the wake of the US subprime mortgage crisis and resultant credit crunch. While the country is more familiar to many as a recipient of aid, and continues to struggle to alleviate poverty despite its...