NO. 52


Financial and Banking News

Regional Financing

Export Credits For Kuwait's PIC Move Ahead

Export credit arrangements for Kuwait's large-scale petrochemical project,the joint venture between Union Carbide and the Petrochemical IndustriesCompany (PIC), are nearing completion. The three agencies involved - Hermes,Sace and US Eximbank - are expected to cover nearly 90% of the $1.3bn commercialfinancing. Hermes and Sace have already given preliminary approval for...