VOL. XL

No. 13

31-March-1997

SAUDI ARABIA

Loan To Cover Downpayment On Saudia Order

The Saudi Ministry of Finance and National Economy has borrowed$400mn from four domestic banks to make a downpayment on the $7.2bn aircraft order fromthe US manufacturers Boeing and McDonnell Douglas to upgrade Saudia, the state airline.The four banks involved are believed to be National Commercial Bank, Saudi Hollandi,al-Bank al-Saudi al-Fransi and Saudi American. The order signed in October 1995 envisions...