The Arab Petroleum Investments Corporation (APICORP) and the National Bank of Fujairah (NBF) have signed a five-year $108 million debt finance facility with Hartree Maritime Partners (HMP).
The facility is to be used to finance HMP’s purchase of two eco-friendly large crude carriers that are built by South Korean Daewoo Shipbuilding and Marine Engineering, APICORP said in a statement.
“The partnership is in line with APICORPs recently launched ESG framework, which re-enforces our commitment to sustainability in the energy sector,” CEO of the company, Ahmed Ali Attiga, commented.
NBF’s CEO, Vince Cook, said: “This is another step in supporting UAE’s national agenda for transformation to a green economy in line with UAE Energy Strategy 2050 and the Dubai Declaration of all banks, cementing NBF’s position as the best financial partner for business.”