Recovery swells Gulf infrastructure funding pipeline - FT.com

Recovery swells Gulf infrastructure funding pipeline - FT.com:

"Last decade’s financial boom triggered a frenzy of global banking interest in project finance across the Gulf region, the lucrative business of funding big oil and gas and infrastructure projects on an unsecured basis.
But the international banks and export credit agencies shied away when the financial crisis hit in 2008 and 2009, causing deal volumes in the Middle East and north Africa to more than halve.
Governments were also less willing to back big infrastructure spending in the aftermath of the crisis, as the oil price fall triggered an 80 per cent drop in petrochemical prices, one of the sectors in focus for project finance bankers."

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