Dubai-Mubasher: Dubai is seeking a loan worth AED 9.18 billion ($2.5 billion) to finance a 15-kilometer (9-mile) extension of its above-ground metro line to the World Expo site, Bloomberg quoted sources as saying.
A number of banks submitted proposals this week to the emirate’s department of finance, including a AED 4.9 billion ($1.34 billion) facility backed by European export credit agencies (ECA) with a maturity of 18 years.
Lenders also bid for a AED 4.1 billion ($1.12 billion) unsecured, commercial facility that is guaranteed by the Dubai government, they said.
