The Middle East and North Africa (MENA) Transition Fund has received USD 37.7mn in contributions from Canada, the United Kingdom and France to support good governance, sustainable growth and greater employment opportunities in the region, the World Bank said in a statement. The grant-based fund, established by the Deauville Partnership and housed in the World Ban, was set up in 2012 to extend grants for institution building and economic governance policies in Jordan, Egypt, Libya, Morocco, Tunisia and Yemen. The fund is a joint commitment among the G-8 members, Gulf and regional partners, and international and regional financial institutions. |
Bahrain Middle East Bank made a USD 13mn full repayment of a loan obligation including a USD 1.4mn interest payment taking total repayments by the troubled lender to USD 43mn, the bank said in ... more
National Bank of Abu Dhabi (NBAD), the UAE's largest lender by market value, initiated a USD 17mn fifteen-year Uridashi bond, MENA's first ever, allowing the bank to directly access Japanese ... more
The GCC economies remain insulated from economic and political turbulence in the MENA region and globally but structural challenges continue to constrain sovereign ratings, ratings agency ... more