BBK, Bahrain’s pioneer in retail and commercial banking, announced that it has issued a fifty million Bahraini dinar loan to the Electricity and Water Authority (EWA).
EWA will utilize this loan to support the expansion and enhancement of present networks and to satisfy the Kingdom’s growing demand for electricity and water, in a way that assures the Kingdom’s continued sustainable growth.
Dr. AbdulRahman Ali Saif, BBK Group Chief Executive extended his appreciation to HE Shaikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy, HE Eng. Wael bin Nasser Al Mubarak, Minister of Electricity and Water Affairs, and HE Shaikh Nawaf bin Ibrahim Al Khalifa, CEO of the Electricity and Water Authority, for their blessing of this facility agreement. He also thanked the responsible seniors in both Ministries for their efforts in ensuring swift processing of all the required procedures related to the loan facility.
between the Ministry and the Bank, and thanks efforts that contribute to enhancing energy security in the Kingdom of Bahrain, increasing the readiness of electricity and water services, ensuring the sustainability and quality of the provided services, as well as securing the requirements for expanding investment, housing, and industrial projects in the Kingdom of Bahrain.
Dr. Saif stated that BBK’s provision of these financial facilities to the Electricity and Water Authority reflects the Government’s trust in the Bank as a Bahraini national institution and a partner in major development projects in the country over the past fifty years. He also emphasized on BBK’s Board of Directors and Executive Management’s commitment to remain the trusted partner in the Kingdom’s prosperity and development.
“Major energy-related infrastructure projects are top priority for BBK and the Bank enjoys a satisfactory liquidity level to extend the necessary facilities”, Dr. Saif added.