The UK’s export credit agency UK Export Finance (UKEF) is providing £1.7bn in backing for a monorail project in Egypt, the largest amount it has ever provided for an overseas infrastructure project.
UKEF’s support takes the form of a buyer credit guarantee on a €1.89bn loan facility, including financed ECA premium, for a €2.7bn contract supplied by Bombardier Transportation UK. The facility is administered by a syndication of banks, led by JP Morgan as the initial mandated lead arranger and facility agent. The other banks in the syndicate are CaixaBank, Crédit Agricole, Credit Suisse, KfW Ipex-Bank, NatWest, Société Générale and UBS.
Santos joins from Grunfeld, Desiderio, Lebowitz, Silverman & Klestadt, where she spent almost 12 years.
Based in Arent Fox’s New York office, Santos will counsel clients on compliance with federal regulations involving the importation of merchandise, and assist them in structuring their transactions to ensure regulatory compliance, minimise duties, and eliminate customs penalty exposure.
Welcoming her to the role, Kay Georgi, international trade and investment leader at Arent Fox, says: “Angela joins our experienced team of attorneys and network of foreign correspondent counsel who help clients navigate everything from customs and import compliance to global trade policy to sanctions and more. This is a critical time for our clients, and Angela will be a terrific advocate.”
Joe Biden has been sworn in as the 46th president of the United States, bringing hope for a more diplomatic and predictable environment for one of the world’s most powerful trading nations. President Biden takes the reins of a country in turmoil because of the pandemic – the US has recorded more than 400,000 deaths .
CDC Group, a publicly funded development finance institution, has moved to support the Eastern and Southern African Trade and Development Bank (TDB) with a new US$100mn finance facility.
The agreement aims to boost TDB’s capacity for providing credit to African businesses in need of short-term financing, and who are grappling with the economic impact of Covid-19.
According to a statement from the parties, the commitment will provide top-up loans and much-needed capital to new and existing TDB clients, which in turn will support the import, export and production of “strategic inputs” and agricultural commodity goods in the 22 members states where TDB operates.
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