JKB and Arab Trade Financing provide Jordan with $6 million loan
Jordan Kuwait Bank and the Arab Trade Financing Program (ATFP) signed a six million dollar line of credit agreement to finance Jordan's foreign trade. The facility was arranged at the recent Dubai 2003 International Monetary Fund (IMF)/ World Bank meetings.
The newest line of credit will bring the number of lines of facilities provided by ATFP to national agencies of Jordan to 32, with utilized volume reaching $302 million.
Jordan Kuwait Bank is an affiliate of United Gulf Bank (UGB), the investment banking arm and subsidiary of Kuwait Projects Company (KIPCO). With assets of more than $10 billion under management or control, KIPCO is a diversified holding company and a major regional force in financial services and media and technology, with further interests in real estate and industry. — (menareport.com)
© 2003 Mena Report (www.menareport.com)