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Singapore-based Olam Agri, the food, feed and fiber operating group of Olam Group, has secured a $745 million financing facility from the UAE banks to refinance existing loans for general corporate purposes, Zawya reports. Abu Dhabi Commercial Bank, First Abu Read more
The European Bank for Reconstruction and Development (EBRD) is expected to provide a senior unsecured debt facility of $20 million to the Commercial International Bank Egypt (CIB) (COMI) to support private small- and medium-sized enterprises (SMEs) led by women, Arab Read more
The Egyptian government has branded rubbish reports it is in talks with the International Monetary Fund (IMF) for an assistance package. Planning minister Hala El-Said told Reuters the Arab country is not seeking a loan from the Washington-based institution, Arab Read more
Saudi Arabia’s Al Jouf Agricultural Development Company (JADCO) has obtained a loan worth 186 million riyals ($49.6 million) to set up a French fries factory in the Gulf country, Zawya reports. JADCO got the loan from the Agricultural Development Fund Read more
Egypt’s Ministry of Transport is close to signing a contract with Siemens for the construction of the country’s second high-speed train, Arab Finance reports. The project, to connect 6th of October city to Aswan with a length of 925 kilometers Read more
The International Islamic Trade Finance Corporation (ITFC) approved a financing of $2.6 billion to fund developmental projects in Egypt, Arab Finance reports citing a statement by the Egyptian Ministry of Trade and Industry. “The ITFC is one of the most Read more
The Sultanate of Oman is in talks with regional banks to refinance a $2.2 billion loan it took out early last year, seeking to increase its size to between $3 billion and $4 billion, Market Screener reports citing two sources Read more
South Korea will grant Egypt $1 billion, the Asian country’s envoy to the Arab country has announced, ahead of Moon Jae-in’s visit this week. Hong Jin-wook, Arab Finance notes, informed Al Mal News about the financial facility without providing further Read more
The World Bank has granted Turkey two loans worth $300 million to support the development of renewable energy by tapping heat sources deep underground as part of the Geothermal Development Project, Daily Sabah reports citing the Washington-based financial institution. The Read more
The Arab Monetary Fund, AMF, has allocated a credit line worth $282 million to Egypt to help the Arab republic implement economic and financial reforms and overcome various challenges, the financial institution said in a statement. The Abu Dhabi-headquartered organization Read more