Sunday, 22 October 2017 01:44 GMT
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Abu Dhabi, Central Bank ink USD20b refinancing pact with Dubai

(MENAFN) The Abu Dhabi Department of Finance and Central Bank of the UAE signed an agreement between the Abu Dhabi Government and Dubai Government for refinancing of a USD10 billion, Emirates 24\7 reported



The Central Bank has also signed an agreement for re-discounting of bonds issued by Dubai Government of USD10 billion value



The tenure for both deals was set at five years renewable, with a fixed interest rate of 1 per cent through the entire tenure

Dubai Government was granted these facilities in 2009 and are due this year


Abu Dhabi, Central Bank ink USD20b refinancing pact with Dubai