Bahrain - Eskan Bank yesterday announced the successful conclusion of a financing syndication deal worth BD250 million, secured in collaboration with leading local, regional, and international banks.

The agreement aims at providing the necessary resources to support Bahrain’s housing programmes and projects from 2023-2026.

The financing will be co-ordinated by the National Bank of Bahrain (NBB) with Bahrain Islamic Bank (BisB) – acting as an agent bank and comprises two tranches.

The first will be financed by the NBB, in co-operation with Standard Chartered, Boubyan Bank and Warba Bank.

This facility includes participation from Gulf International Bank (GIB), The Housing Bank for Trade and Finance and Habib Bank Limited.

The second tranche is financed by NBB, BisB, and Al Baraka Islamic Bank.

Housing and Urban Planning Minister and Eskan Bank board of directors chairperson Amna Al Romaihi said: “The signing of this financing syndication worth BD250m reflects our active collaboration with the private sector to ensure the availability of flexible and sustainable financing solutions for citizens, in line with ministry and Eskan Bank programmes aiming to achieve the objectives of the government’s plan 2023-2026, as well as the projects and programmes included in the state budget for 2025-2026.”

The minister added that signing the financing syndication deal with the local, regional and international banks reflects Eskan Bank’s solid position in the financial markets.

It also indicates the bank’s role in providing housing needs for citizens, especially with regard to the housing finance programme, in which the Housing Bank has made significant contributions with the ministry, providing thousands of flexible and immediate housing services to citizens in recent years.

The minister stressed that activating the financing syndication deal will further strengthen Eskan Bank’s capacity to implement housing programmes and initiatives, accelerating the process of providing suitable houses for citizens. 

Eskan Bank general manager Abdulla Taleb added: “This agreement represents a vital step in enabling Eskan Bank to continue fulfilling its mission of addressing housing needs across the kingdom.

“We value the confidence and co-operation of the ministry, along with our partner banks, whose contributions have been essential in ensuring financial resources are in place for the next phase of our housing initiatives.”

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