ADNOC has entered into a green financing agreement worth 7.34 billion dirhams ($2 billion) with Korea Trade Insurance Corporation to fund low-carbon projects across its various operations. This initiative reinforces ADNOC’s commitment to integrating sustainable financing principles into its growth and expansion strategies.
The agreement was announced during a visit by Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, managing director and CEO of ADNOC and its group of companies, to South Korea, where he met with Byung-Jin Jang, President and Chairman of Korea Trade Insurance Corporation.
The credit facility, supported by Korea Trade Insurance Corporation and structured under ADNOC’s sustainable financing framework, enables the funding of eligible projects that comply with internationally recognized sustainable financing standards.
Fitch Sustainable has issued an independent opinion as a second party, confirming that ADNOC’s sustainable financing framework aligns with these international standards.
Khaled Al Zaabi, Head of Finance at ADNOC Group, stated, “This credit facility underscores ADNOC’s commitment to financing the transformation in energy systems while maintaining a strong and disciplined approach to capital management.
Through our partnership with Korea Trade Insurance Corporation, we are broadening access to green financing and strengthening our economic ties with South Korea, as we continue to establish ADNOC as one of the leading global players in low-carbon energy.”