The amount lent by banking consortiums to major projects in the UAE amounted to $2.133 billion (Dh7.828 billion) last year, growing significantly from $140 million (Dh513.8 million) in 2002, statistics published by the International Monetary Fund (IMF), have indicated.
These figures were published in the IMF world financial stability report, according to The Gulf Today. Loans amounting to $666 million (Dh2.444 billion) were issued in the first quarter of 2004 compared with $465.6 million (Dh1.706 billion) in the last quarter. (menareport.com)
