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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