ATFP and Apicorp sign agreement

ABU DHABI — A line of credit agreement was signed here yesterday between the Abu Dhabi-based Arab trade financing programme, and the Arab Petroleum Investment Corporation, Apicorp, a designated national agency of the programme in the Saudi Arabia.



By (Wam)

Published: Wed 17 Aug 2005, 10:28 AM

Last updated: Thu 2 Apr 2015, 4:15 PM

Dr. Jassim Al Mannai, chief executive chairman of the board, signed the agreement on behalf of the programme, while Ahmed Said bin Hamad Al Nuaimi, chief executive chairman of the board, signed the agreement on behalf of Apicorp.

The line of credit granted to Apicorp amounts to $40 million. Thus, the number of lines of credit including this line, provided by the programme to Apicorp will be with a total value of $120 million. During this occasion, Dr. Al Mannai commended the role played by Apicorp, highlighting the importance of the credit facilities, trade information and trade promotion services, provided by the programme.


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