Arab Bank was recently named Best Arranger for Project and Infrastructure Finance in the Middle East by Global Finance magazine for the year 2012. Arab Bank received this award for its exemplary role in project financing throughout the Middle East and its historic contributions to facilitating the region’s infrastructure growth.
The award by Global Finance recognizes the top performers in investments in core infrastructure assets such as airports, railways, ports, power generation and transmission, oil and gas pipelines and renewable energy projects.
Global Finance, with input from industry analysts, bankers, lawyers and technology experts used a variety of subjective and objective criteria to choose the winners, among them market share and position on league tables, innovative products and thinking, client service, execution skills and vision for the future.
Mr. Nemeh Sabbagh, CEO of Arab Bank commented, “As the Middle East seeks to boost its competitiveness in the global economy, project finance is an important source of long-term financing that can fuel economic and social development in our region.” Mr. Sabbagh further added, “Project and infrastructure finance have always been a core part of Arab Bank’s business; we are committed to providing financing for infrastructure and commercial projects as part of our vision to achieve sustainable development and to support the region’s greater ambitions.”
Mr. Samer Tamimi, Head of Global Corporate and Investment Banking at Arab Bank also added, “Receiving this award reflects Arab Bank’s strength as one of the most capable arrangers of innovative financing schemes for major infrastructure projects in the region.” Mr. Tamimi concluded, “Our project financing strategy incorporates prudent capital utilization in order to efficiently foster growth at a sustainable pace in the markets where we operate.”
“There are many exciting projects underway or on the drawing boards, despite difficult economic and financial conditions in many parts of the world,” says Joseph Giarraputo, publisher of Global Finance. “Those who take advantage of current low construction costs and changing technology to invest in infrastructure will be the winners to come in the years ahead. Productivity and efficiency need to increase to promote economic growth and meet the future needs of the world’s expanding population.”