NO. 40


Financial and Banking News

Regional Banking

Yemen Reschedules $120mn L/C Facility...

The Yemen Bank for Reconstruction and Development (YBRD) is to reschedule theunpaid portion of a $120mn five-year letter of credit facility signed in 1987.The bank has made a goodwill payment covering around 60% of the outstandingdebt, and the balance will be rescheduled over three years. The banks mostclosely involved in the facility are Arab Banking Corporation (as agent), Gulf...