Middle East Economic Survey

VOL. XLVII

No 41

11-October-2004

ENERGY FINANCE

EDC Extends $600Mn In Credit To Assist Canadian Exports To Algeria

A $500mn credit facility was signed on 26 September between Export Development Canada (EDC) and Algerias Sonatrach to finance the supply of goods and services from the energy and engineering sectors in Canada to the state-owned company and its subsidiaries. The financing takes the form of direct loans and/or guarantees to commercial banks providing the...