JBIC Loans $3B To Buoy UAE-Owned Oil Co. Upstream Growth

Law360, New York (February 8, 2013, 4:52 PM EST) -- The Japanese Bank for International Cooperation and three Japanese lenders have agreed to loan the state-owned oil company of the United Arab Emirates roughly $3 billion to advance the UAE's upstream developments in the region, according to media reports Friday.

Japanese trade minister Toshimitsu Motegi said that the JBIC will sign the loan documents with the Abu Dhabi National Oil Co. on Sunday. The Japanese bank will make the loan with three other Japan banks: Bank of Tokyo-Mitsubishi UFJ Ltd., Sumitomo Mitsui Banking Corp. and Mizhuo...
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