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ATF approves $115m credit in Q2
ABU DHABI - Arab Trade Funding programme has approved $115 million credit to six national agencies during the second quarter of this year.
A meeting of the agency held yesterday reviewed its funding activities during 2004. During the second quarter it had received applications for $241 million worth funding for commercial deals. For the whole of first half of the year, the agency has approved $262 million, while its funding since its inception in 1991 has totalled $3.6 billion.
The meeting of Arab Trade Finance chaired by Dr. Jasim Al Mana'ei, executive director of the programmes Board of Directors also reviewed the performance of investment funds and financial data of the second quarter of the year 2004.
In addition, the meeting discussed the possibility of upgrading of trade related statistics of the Arab region and making it available through a website.
The Council agreed that some of the funding to the new projects in the region could be done directly while a few could be indirectly financed through financing of capital goods imports.
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