Middle East Economic Survey
VOL. XLVII
No 30
26-July-2004
ENERGY FINANCE
Sonatrach Signs Framework Deal With JBIC
Algerian state-owned oil and gas producer Sonatrach has signed a framework agreement with the Japan Bank for International Cooperation (JBIC) valued at $550mn. It is to be used to finance several commercial contracts with Japanese companies who have won construction or procurement bids. JBIC will take on 60% of the financing, with the remainder to be taken up by commercial banks. Nippon...
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