Emery said that senior leaders at the IFC had undermined the “ambitious and thoughtfully designed” plan through a desire to “tell a magical story where a pinch of best practices and a dash of de-risking” would be enough to unlock the required financing.
East Africa-focused financial services provider Britam Holdings has opted out of insuring a controversial pipeline project – in a move that has been hailed by opponents.
High hopes around the shift to hydrogen have largely focused on technology providers, but there will also be a need for companies to bring production into reality.
The International Finance Corp. (IFC) has arranged a $360 million for Basrah Gas Co. (BGC), which will be one of the largest gas flaring reduction schemes in the world.
