ADNOC and JBIC Sign $3 Billion Green Financing Agreement

Abu Dhabi National Oil Company (ADNOC) PJSC has finalized a significant agreement with the Japan Bank for International Cooperation (JBIC) for a $3 billion (AED11 billion) green financing facility. This milestone follows the signing of a Heads of Agreement (HOA) between ADNOC and JBIC earlier this year, reinforcing their longstanding and successful partnership.

The credit facility is part of JBIC’s Global action for Reconciling Economic growth and ENvironmental preservation (GREEN) lending program, with partial support from Japanese commercial banks.

Khaled Al Zaabi, ADNOC Group Chief Financial Officer, emphasized the strategic importance of this collaboration, stating: “We are delighted to once again collaborate with JBIC on ADNOC’s inaugural green funding initiative aimed at accelerating our decarbonization and energy transition efforts. The proceeds from this credit facility will play a crucial role in advancing ADNOC’s strategy to foster a fair, structured, and equitable global energy transition. This agreement also signifies a significant milestone in the longstanding energy partnership between the UAE and Japan, and we anticipate further collaboration with JBIC as ADNOC continues to execute its ambitious growth strategy.”