Ministry of finance partners with international banks to secure $500m

According to a statement released by the Ministry of Finance, the ministry, Deutsche Bank, Bank ABC, and the Arab Investment and Export Credit Guarantee Corporation (Daman) to secure $500 million in new development financing.

The primary objective of this partnership is to implement health and educational projects.

This joint effort aims to diversify funding sources through innovative, diverse, and sustainable tools while addressing environmental and governance requirements. Notably, this marks the first time that development financing has been secured with the guarantee of a multilateral financial institution.