New credit line for Abu Dhabi Commercial Bank
The Arab Trade Financing Program has provided a new line of credit to Abu Dhabi Commercial Bank. The deal is worth U.S.$ 20 million and the sum will be used to financing foreign exchange trade transactions by the United Arab Emirates.
The line was provided following an agreement signed at the headquarters of the Program at Abu Dhabi on behalf of the Arab Trade Financing Program chief, Dr Jassim Al Mannai, and the Abu Dhabi Commercial Bank CEO Ala Erekat.
Now, the number of credit lines provided by the Program to national agencies in the the United Arab Emirates amounts to 30 with a total volume of US$803 million.
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