Bank of Bahrain and Kuwait provides $132.6mln financial facilities to EWA

EWA will utilise this loan to support the expansion and enhancement of present networks

  
Image used illustrator purpose. A money changer counts U.S. dollar banknotes at a currency exchange office in Diyarbakir, Turkey May 23, 2018.

Image used illustrator purpose. A money changer counts U.S. dollar banknotes at a currency exchange office in Diyarbakir, Turkey May 23, 2018.

REUTERS/Sertac Kayar

BBK, a leading retail and commercial bank in Bahrain, announced that it has issued a BD50 million ($132.67 million) loan to the Electricity and Water Authority (EWA).
 
EWA will utilise this loan to support the expansion and enhancement of present networks and to satisfy the Kingdom's growing demand for electricity and water, in a way that assures the Kingdom's continued sustainable growth, said a BBK statement.
 
Dr AbdulRahman Ali Saif, BBK Group Chief Executive, extended his appreciation to Shaikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy; Eng Wael bin Nasser Al Mubarak, Minister of Electricity and Water Affairs; and shaikh Nawaf bin Ibrahim Al Khalifa, CEO of the Electricity and Water Authority, for their support to this facility agreement.
 
Dr Saif stated that BBK's provision of these financial facilities to the EWA reflects the government's trust in the bank as a Bahraini national institution and a partner in major development projects in the country over the past 50 years. He also emphasised on BBK's Board of Directors and Executive Management's commitment to remain the trusted partner in the Kingdom's prosperity and development.
 
"Major energy-related infrastructure projects are top priority for BBK and the Bank enjoys a satisfactory liquidity level to extend the necessary facilities," Dr Saif added. -TradeArabia News Service

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