Perspective
14 August 2019
Al Dur 2: A Saudi nightmare on ECA street
In:
Power, Social infrastructure, Waste and water
Region:
Middle East & Africa
The $1.5 billion Al Dur 2 independent water and power project (IWPP) financing achieved a record length tenor on an uncovered local bank tranche, an indirect benefit of ECA support. But according to sources close to the deal, that benefit may not counterbalance the arranging 'nightmare' that went with structuring Saudi Exim’s direct loan debut.
