Amman - The Arab Bank, one of the Arab world's largest banking establishments, said Wednesday it was going to act as the Mandated Lead Arranger of a 150-million-dollar syndicated loan for South Korean's Daewoo Engineering and Construction Co. The two-year loan will be used for financing the Daewoo group's construction operations in the Middle East and North Africa region (MENA), the Arab Bank's chairman Abdul Hamid Shoman said in a statement.
"The rapid development in Southeast Asia requires new coalitions to help boost bilateral and multi-later cooperation in various vital spheres in the region," Shoman said.
