Saudi Red Sea tourism plan set to clinch $3.7 billion green loan
Photo via Bloomberg
Published 19 Apr,2021 via Bloomberg Markets - Saudi Arabia could be weeks away from clinching the first significant funding package for a key part of Crown Prince Mohammed bin Salman’s program to diversify the kingdom’s economy.
The Red Sea Development Co.’s 14 billion-riyal ($3.7 billion) loan is set to close with a small group of local banks including Saudi National Bank, Banque Saudi Fransi, Riyad Bank and Saudi British Bank, according to people familiar with the matter.
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Matthew Martin