DBS Bank creates project finance unit

One of southeast Asia’s largest banks has just set up a dedicated project finance unit to capitalise on an estimated $8trn of required infrastructure investment in Asia over the next decade.

Singapore-headquartered DBS Bank, which claims to be southeast Asia’s largest bank, has created a dedicated project finance unit.

The team will be led by Lim Wee Seng, who has been with the bank since 1995. It aims to capitalise on what the Asian Development Bank estimates as an $8 trillion infrastructure investment opportunity between 2010 and 2020.

DBS is not new to project finance and has been funding deals since 2003. Over the last two years, it has been involved as mandated lead arranger in some $2.5 billion of project finance transactions including deals in China, India and Indonesia, its key growth markets.

The bank highlights in a statement that India and Indonesia in particular are expected to make significant investments over the next few years to increase their power generation capacity.