Financing deal reached on El Salvador LNG power project
May 12, 2021 6:26:pm
Summary
by: Daniel Graeber
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Financing deal reached on El Salvador LNG power project
A division of BW Group, an oil and gas producer, said May 12 its partners had closed on a financing deal to support an LNG-to-power project in El Salvador
BW LNG said it closed on a $128.3mn financial deal with sustainable energy developer Invenergy and IDB Invest, part of the Inter-American Development Bank Group, to back a floating storage and regasification unit (FSRU) for the greater Energia del Pacifico (EDP) LNG-to-power project.
“This is the region s first FSRU, which will be permanently moored at the Port of Acajutla, Sonsonate, El Salvador,” the companies said. “Invenergy and BW LNG will jointly commission, operate and maintain the FSRU.”
May 4, 2021
The CSIS Economics Program is tracking commitments and approvals by major international financial institutions (IFIs) to meet the massive financing needs generated by the Covid-19 pandemic and its economic fallout. These IFIs include the International Monetary Fund (IMF), World Bank Group, and major regional development banks. We also include select regional financing arrangements (RFAs), which, together with the IFIs, central bank bilateral swap lines, and individual countries’ foreign reserve holdings, comprise the Global Financial Safety Net (GFSN).
Based on data updated through March 31, 2021:
We estimate IFIs have approved $262.4 billion in Covid-19-related support through Q1 2021. In total, the IMF has approved $108.6 billion, including emergency assistance and precautionary lines of credit, while the multilateral development banks (MDBs) have approved a combined $151.9 billion. MDB approvals are led by the European Investment Bank (EIB) and the World Bank, e
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