November 26, 2018 |
IDB Invest arranges a 15-year financing package for the Dubai-based port operator's project in Posorja
DP World has funded the first phase of a $1.2bn port terminal in Ecuador with financing from IDB Invest, DEG and Proparco.
IDB Invest said it put together a 15-year, $377m financing package for the terminal in Posorja, about 120km southwest of Guayaquil. The private sector division of the IDB supplied $144m of its own funds and also arranged $233m from other lenders, including $50m from the China Cofinancing Fund for the Americas. The IDB and the People's Bank of China (PBC) created the $5bn fund in 2013.