The Japan Bank for International Cooperation (JBIC) signed two project loan agreements with Abu Dhabi National Oil Company (ADNOC). These agreements amount to approximately $341 million and $130 million, respectively, under the credit line established in July 2024.
The loans are co-financed by Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation, MUFG Bank, Ltd., and The Hongkong Shanghai Banking Corporation Limited, Tokyo Branch, bringing the total co-financing to $569 million and $217 million, respectively.
Furthermore, the loans, which are a part of JBIC’s GREEN operations, will fund ADNOC’s global renewable energy projects and support energy-efficient power generation and decarbonisation efforts in the UAE.
ADNOC is a major energy company fully owned by the Emirate of Abu Dhabi. It is committed to decarbonising its operations. The company has set ambitious goals, including achieving net-zero emissions by 2045, promoting renewable energy, developing hydrogen and ammonia, and advancing carbon capture and storage (CCS) along with other green energy initiatives.
