Gulf International Bank
Bank of the Year
What is it?
GIB is a merchant bank owned by the six member states of the Gulf Cooperation Council (GCC). Since 2002, it has pursued the strategic objective of becoming "the GCC merchant bank of choice".
What has it done?
GIB has been involved in four of the largest water project financings closed in 2007. These include the Shuqaiq and Jubail IWPPs, the Shoaiba RO extension in Saudi Arabia, and the Barka 2 IWPP in Oman.
Why is it shortlisted?
- At a time when other GCC joint ventures, such as Gulf Air, are falling prey to regional rivalries, GIB has shown that it can make Gulf co-operation work, and produce a world-class business commanding widespread respect.
- Over the past five years, GIB has established its place at the top of the Gulf project finance market. 2007 was a banner year for its involvement in the water sector.
- The GCC region is facing a water scarcity crisis unmatched anywhere else in the world. GIB has risen to this challenge, and plays an essential role in making water work across the region.