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...
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