Apicorp launches $500m facility

1 May 2020 (Last Updated May 1st, 2020 17:31)

Arab Petroleum Investments Corporation (Apicorp) has announced a $500m countercyclical support package aimed at supporting member country clients in the energy sector amid the Covid-19 pandemic and oil price fluctuations.

The Saudi Arabia-based multilateral development agency said the package would be deployed to support “sustainable impact-driven projects by extending funding for projects and working capital within the areas of utilities, renewables, petrochemicals, among other energy sub-sectors”.

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