Bank Audi has announced that it was granted the “Energy Ambassador of the Year 2018 Award – Lebanese Institution” at the opening of the 9th edition of the International Beirut Energy Forum which was organised by MCE Group and held at Le Royal Hotel on September 26, 2018.
The event, which was held under the patronage of H.E. General Michel Aoun, President of the Lebanese Republic, gathered Lebanese and Arab officials, VIPs, professionals and experts in the field.
On the reasons behind Bank Audi’s win, Mr. Khalil Debs, Group Head of Corporate Banking at the Bank, explained that “Bank Audi had been mandated as the lead arranger for the financing of 160MW wind farms in Akkar, and to that end, had played a crucial role in the structuring of the first Power Purchase Agreement with the government of Lebanon.”
He added that “the Bank is actively working on arranging other energy transactions in the renewable and conventional energy sectors, the aim being to structure bankable transactions within an optimal risk-sharing protocol, to attract the required debt and equity financing while preserving the public sector’s interest.”
This new achievement highlights Bank Audi’s leading positioning as the main financial contributor to energy-related projects benefitting to the society as a whole, and its strong belief that such projects generate spillover effects which can stimulate the economy and attract much needed foreign funding to the country. In turn, this would lead to job creation, increase productivity, enhance national competitiveness and revitalize trade routes.