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FAB arranges €100M sustainable loan for Etihad Airways linked to UN goals

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FAB arranges €100M sustainable loan for Etihad Airways linked to UN goals

First Abu Dhabi Bank PJSC arranged a €100 million loan for Etihad Airways PJSC to support a sustainable development project.

The United Arab Emirates airline will use the funding to expand an apartment complex for its cabin crew, a project that meets two United Nations' Sustainable Development Goals.

Adam Boukadida, senior vice president treasury, tax & finance, at Etihad Aviation Group, said the funding was secured in partnership with FAB and Abu Dhabi Global Market, a financial center and regulator in the emirate.

The loan "is not only the first in global aviation but also one of the first in the Middle East region," Boukadida said.

National Bank of Abu Dhabi, which merged with First Gulf Bank to create FAB, issued the Middle East's first green bond — worth $587 million — in March 2017.