UAE’s ADNOC secures $3bn loan from Japan’s JBIC and four other banks

UAE’s ADNOC secures $3bn loan from Japan’s JBIC and four other banks
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Updated 18 November 2021

UAE’s ADNOC secures $3bn loan from Japan’s JBIC and four other banks

UAE’s ADNOC secures $3bn loan from Japan’s JBIC and four other banks
  • "This facility is intended to provide necessary support to ADNOC in ensuring stable imports of crude oil by Japanese companies," JBIC said.

The Abu Dhabi National Oil Company (ADNOC) signed a $3 billion loan agreement with Japan's export credit agency and four other lenders, Reuters reported citing JBIC. 

The Japan Bank for International Cooperation (JBIC) is providing $2.1 billion and Sumitomo Mitsui Banking Corporation (SMBC), the Tokyo branch of HSBC, Mizuho and MUFG are providing the rest, JBIC said in the statement.

"This facility is intended to provide necessary support to ADNOC in ensuring stable imports of crude oil by Japanese companies," JBIC said.

The agreement falls within ADNOC’s 2030 strategy and contributes to diversifying funding sources.