ADEX receives financing from CBD + SMBC: The Abu Dhabi Exports Office (ADEX) has inked an AED 863 mn (USD 235 mn) syndicated loan agreement with the Commercial Bank of Dubai (CBD) and Japan’s Sumitomo Mitsui Banking Corporation (SMBC) to support Singapore-based trading firm Trafigura, according to a statement. The financing will support Trafigura’s acquisition of UAE-sourced commodities across several industries, including energy, metals, and minerals, facilitating the integration of UAE products into the international supply chain.

A breakdown of the funds: ADEX — the export financing arm of Abu Dhabi Fund for Development — is allocating USD 150 mn, while CBD and SMBC are contributing USD 65 mn and USD 20 mn, respectively.

ICYMI: Trafigura inked a two-year agreement for a USD 150 mn revolving credit facility with Etihad Credit Ins. and multiple UAE-based banks to boost UAE exports back in September 2024.

IN OTHER DEBT NEWS-

Arab lenders pledge USD 76 mn for Liberian road project: The Liberian government has signed an agreement with a group of institutions led by the Kuwait Fund for Arab Economic Development (KFAED) to provide USD 76 mn for the country’s Gbarnga-Mendikorma Highway project, according to a statement. About USD 65 mn of the financing will go toward paving 50 km of road between the districts of Konia and Voinjama, while the remaining USD 11 mn is earmarked for re-layering asphalt for an 81 km stretch.

That’s not all: KFAED also signed off on restructuring a USD 6.7 mn facility incurred by the Liberian government. The consortium also rescinded a suspension on the government’s borrowing, which took effect when Liberia’s National Port Authority failed to repay a USD 14 mn loan in 2023.

Meet the consortium: Among the Arab lenders are the Saudi Fund for Development, the ArabBank for Economic Development in Africa (BADEA), the OPEC Fundfor International Development (OFID), and the Abu Dhabi Fund.

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