Middle East and Africa project finance loans are set to rise almost 15 percent to about $40 billion this year as borrowers seek funds for petrochemicals, power and metals production, Standard Chartered Plc (STAN) said.
Lending will advance from about $35 billion in 2012 because “infrastructure demand is going to be significant,” Ravi Suri, Standard Chartered’s Dubai-based head of project and export finance for the Middle East, Africa, South Asia and Europe, said in a Jan. 14 interview. Delays in some projects last year had muted demand for credit, he said.
“Power and desalination will be huge,” Suri said. “You will have some petrochemicals, you’ll have infrastructure, roads, solar, renewables will perhaps play a big role.”
StanChart Expects 15% Jump in Middle East Project-Loan Pipeline - Bloomberg
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