Banco Latinoamericano de Comercio Exterior, S.A. (Bladex), in collaboration with African Export-Import Bank (Afreximbank) and 16 other financial institutions, has closed a landmark US$1.6 billion long-term senior secured financing facility with Staatsolie Maatschappij Suriname N.V. The funds will aid Staatsolie in refinancing existing debt and financing its 20% stake in the GranMorgu offshore oil project in Suriname's Block 58. Structured and syndicated by Bladex, the credit facility marks the largest project financing in Suriname's history and is expected to double Staatsolie's production. Annand Jagesar, Staatsolie's Managing Director, emphasizes the project's potential to drive significant economic growth and development in Suriname, generating over 6,000 jobs and injecting up to $26 billion into the national economy.
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