The Gulf Cooperation Council (GCC) project finance market is set to double over the next five years as the region continues to undertake massive infrastructure projects across several key sectors, including oil and gas, said Governor of the Bahrain Monetary Agency (BMA) Shaikh Ahmed Bin Mohammed Al-Khalifa.
He was speaking during the opening of the MEED Project Finance Conference, being held at the Sheraton Bahrain Hotel from October 7-8, 2003. The event focuses on the challenges facing borrowers and lenders in financing projects, with special emphasis on investment opportunities in the GCC region.
More than 120 delegates, who include sponsors, developers and financiers, are attending the conference.
The BMA has initiated a major strategic exercise to further develop the financial sector over the next five years, said Shaikh Ahmed. Key elements of that strategy include further expansion and development of the capital market, particularly for corporate and sovereign bond issuance activity and enhancing the legal and regulatory framework for debt capital markets.
Bahrain has hosted a number of MEED conferences. Upcoming conferences, being organized by MEED in Bahrain, will include insurance and capital markets. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
