Kuwait-Mubasher: National Bank of Kuwait’s (NBK) share in financing Clean Fuels project will stand at KWD 600 million ($1.993 billion); the share of conventional banks in the funding process, the bank said in a bourse statement.
NBK was mandated among leading banks which will fund the project, subject to a long-term loan for Kuwait National Petroleum Company.
The KSE-listed bank noted that it would sell part of this financing in the future.
With an overall cost of KWD 3.4 billion ($11.35 billion, the project comes as part of the country’s KWD 30 billion ($100 billion) economic development plan.
