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Wednesday, 22 February 2012

Dubai raises $675 mln for tram project | Reuters

Dubai's department of finance raised $675 million from a dual-currency loan to complete the first phase of its Al-Sufouh tram project in the emirate.

The facility comprises a 13-year $401 million loan which will amortize over 10 years starting 2015, the media office of Dubai government said in an email statement on Wednesday.

The loan is guaranteed by the official government export credit agencies of Belgium (ONDD) and France (COFACE).