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ADB to fund Karnataka state highway upgrades

The Asian Development Bank has signed off on a $346 million loan to fund upgrades to over 400km of state highways in Karnataka

DEG backs Daystar Power’s hybrid solar in West Africa

Small-scale renewable energy solutions provider Daystar Power has signed on a loan with German development bank DEG to finance the roll-out of hybrid solar power systems in West Africa

Falcon Group opens New Zealand office

Specialist finance provider Falcon Group has continued to grow its presence in Australasia by opening a new office in Auckland, New Zealand

Finastra joins Bahrain fintech hub

Financial services software provider Finastra has joined Middle East-based fintech hub Bahrain FinTech Bay

EBRD considers loan for Kazakh solar

The European Bank of Reconstruction and Development has completed it concept review for a loan supporting a 100MW solar PV project in the Karaganda region of Kazakhstan

First close on AfDB’s off-grid power debt fund

An African Development Bank-backed infrastructure debt fund – the Off-Grid Energy Access Fund – has reached a $58 million first close

New UKEF funding for Africa

The UK government has committed an additional £5.5 billion ($7.08 billion) in funding for national export credit agency UK Export Finance (UKEF) to invest in eight African markets

Total exits Hazira LNG terminal and port in India

Total has signed a binding letter of intent to sell its 26% minority equity stake in the Hazira LNG regasification terminal and port venture in Gujarat, India to its co-shareholder Shell

US grant to kick-start Ethiopian geothermal

The US Trade and Development Agency yesterday awarded a grant to Ethiopia-based TM Geothermal Operations to finance feasibility studies for the first 50MW of the planned 520MW Tulu Moye geothermal project

Shareholders approve Noble Group restructuring

Shareholders of struggling commodities trader Noble Group yesterday (27 August 2018) approved a debt-to-equity restructuring deal with creditor which will see its senior debt cut from $3.4 billion to around $1.7 billion

Kenya to sign funding of railway’s second phase

The Kenyan Ministry of Transport and Infrastructure will agree to a Sh380 billion loan for the second phase of the Standard Gauge Railway next month

World Bank infra loan for Togo

The World Bank yesterday committed to lend $30 million to Togo to advance its Urban Development and Infrastructure Programme.

Canada Infrastructure Bank makes first loan to Québec LRT

The newly-established Canada Infrastructure Bank has agreed a C$1.28 billion loan to the C$6.3 billion Réseau express métropolitain project in Montréal. It is the first ever investment by the state-owned lender.

Louis Dreyfus Asia closes $600m revolver

Louis Dreyfus Asia has expanded its three-year revolver to $600 million, up from last year’s $500 million.