PHOTO
BBK, Bahrain's pioneer in retail and commercial banking, announced that it has issued a fifty million Bahraini dinar loan to the Electricity and Water Authority (EWA).
EWA will utilize 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.
Dr. AbdulRahman Ali Saif, BBK Group Chief Executive extended his appreciation to HE Shaikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy, HE Eng. Wael bin Nasser Al Mubarak, Minister of Electricity and Water Affairs, and HE Shaikh Nawaf bin Ibrahim Al Khalifa, CEO of the Electricity and Water Authority, for their blessing of this facility agreement. He also thanked the responsible seniors in both Ministries for their efforts in ensuring swift processing of all the required procedures related to the loan facility.
between the Ministry and the Bank, and thanks efforts that contribute to enhancing energy security in the Kingdom of Bahrain, increasing the readiness of electricity and water services, ensuring the sustainability and quality of the provided services, as well as securing the requirements for expanding investment, housing, and industrial projects in the Kingdom of Bahrain.
Dr. Saif stated that BBK's provision of these financial facilities to the Electricity and Water Authority 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 fifty years. He also emphasized 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.
-Ends-
© Press Release 2021
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
