Abu Dhabi agrees to refinance $20bn of Dubai’s debt
17/03/2014 10:47 am EDT


share with your network:




Abu Dhabi and the UAE central bank have agreed to refinance $20bn of debt that was extended to the Dubai government as emergency aid during its financial crisis and comes due this year, Reuters has reported. The debt is being rolled over for five years at a 1% annual interest rate. The roll-over covers a $10bn, five-year loan which was offered to Dubai by the Abu Dhabi government through two state-owned banks, and $10bn of five-year bonds, which Dubai issued to the UAE central bank.

About the Author



share with your network:


Share your view



© 1996-2015 Media quest FZ LLC A media and entertainment company
Middle East Main Office
[email protected]
© 2015 Dubai Business | Ameinfo . All rights Reserved.