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Article: WEST ASIA PROJECTS HIT BY TIGHTENING CREDIT, SAYS UNCTAD.
- Article from:
- AsiaPulse News
- Article date:
- October 1, 2009
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DUBAI, Oct 1 Asia Pulse - Development projects across West Asia have been hit by tightening global credit markets and the global recession, particularly since the third quarter of 2008, an UNCTAD report has revealed.
According to the United Nations Conference on Trade and Development's annual review of investment trends, the number of international banks able or willing to lend to projects in West Asia has shrunk sharply.
The World Investment Report 2009: Transnational Corporations, Agricultural Production and Development says: "As a result, some major oil and gas,industrial and infrastructure projects have been cancelled or postponed, which is likely ...