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Dec 30

Arab Spring Brings Winds of Change to the Maghreb and MENA Region: Does that Spell Opportunity for Infastructure Development and Project Finance?

By: Silvano Domenio Orsi

 

Turmoil and revolution accompanied the 2011 Arab Spring, beginning in Tunisia and spreading to Egypt and Libya, bringing change across the Maghreb and Middle East and North Africa (“MENA”) region. Whether any of the new political, institutional or social reforms that might be implemented will actually work to attract international investment in the region, or work to increase opportunities for project finance and infrastructure development in general, remains to be seen.

The outlook seems positive, however, especially in key areas such as clean energy, infrastructure development, and projects that export power, oil, gas, water, and renewable energy to more developed and energy-starved nations. Positive predictions by key players heavily involved in the region, such as the World Bank and EBRD, are also beginning to surface as the uprisings begin to subside, and as the region begins to favour new democracy, foreign investment, and greater social reform.

 

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