GIB remains the Middle East's top provider of project finance services

Published March 18th, 2004 - 03:00 GMT

Gulf International Bank (GIB) maintained its position as the primary provider of project and structured finance services in the Middle East and North Africa (MENA) region in 2003, according to a press release.

Dealogic ProjectWare, a global database covering project finance deals, has recently announced that GIB topped the global mandated arranger and provider table in the MENA region for 2003, surpassing all other major local, regional and international banks active in this region.

According to Dealogic, the volume of project finance in the MENA region increased in 2003 to $10.87 billion, compared with four billion dollars in 2002, the highest regional year-on-year increase in the project finance market. This also accounted for 10 person of the $108 billion global volume, the highest portion of global project project finance ever for the region. The number of transactions also went up from eight to 14.

GIB has been at the top of the Middle East project finance league tables for the third consecutive year, as rated by trade publications such as Project Finance International, Euromoney and MEED. — (menareport.com)