Thousands of Afghans were moved to UK in secret scheme after data breach    Trump says attorney general should release any 'credible' information on Epstein    Yemen postpones execution of Indian nurse on death row    Mike Waltz grilled over Signal leak at UN ambassador hearing    Saudi Arabia bans grocery stores from selling tobacco products    Saudi Arabia to expand railway network by over 50% under transport strategy    Health official warns against unsupervised use of weight-loss drugs like Ozempic, Mounjaro    Saudi tech and innovation delegation explores AI and space partnerships in UK    SFDA refers illegal cosmetics facility to prosecution over expiry date tampering    King Salman chairs Cabinet session, endorses international cooperation and national development initiatives    King Fahad National Library extends weekend hours    GASTAT: Inflation remains stable at 2.3% in June    Saudi Arabia leads MENA in venture capital with $860 million in H1 2025    Biggest human imaging study scans 100,000th person    Beyoncé's unreleased music stolen from car during Cowboy Carter tour    First Harry Potter image released as production begins    Jorge Jesus returns to Saudi Arabia as Al Nassr head coach on one-year deal    Jannik Sinner beats Carlos Alcaraz to win his maiden Wimbledon title    Chelsea defeat PSG 3-0 to win first expanded Club World Cup    Theo Hernández: Al Hilal can compete with Europe's best    Sholay: Bollywood epic roars back to big screen after 50 years with new ending    Ministry launches online booking for slaughterhouses on eve of Eid Al-Adha    Shah Rukh Khan makes Met Gala debut in Sabyasachi    Pakistani star's Bollywood return excites fans and riles far right    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Red Sea Development Company Secures SAR 14.120 Billion Loan and First Ever Riyal-denominated Green Finance Credit Facility
Published in Saudi Press Agency on 27 - 04 - 2021

The Red Sea Development Company (TRSDC), the developer behind the world's most ambitious regenerative tourism project, announced today that it has closed a SAR 14.120 billion (USD 3.76 billion) term loan facility and revolving credit facility with four Saudi banks.
CEO of TRSDC John Pagano said, "Green Financing accreditation was awarded due to TRSDC's market leading approach to social and environmental sustainability and the Red Sea Project's international recognition as a green project. The financing is the first Riyal-denominated credit facility to receive Green Financing accreditation."
"The scale of this project is unmatched anywhere in the world and we are setting new standards in regenerative tourism at every turn. By applying a unique approach to design, utilizing more sustainable methods of construction and using groundbreaking technology, we are not only reducing our impact on the environment but helping to deliver on our commitment to achieve a 30 percent net conservation benefit by 2040. It is this pioneering approach that has helped us secure the first ever Riyal-denominated Green Finance credit facility." he added.
Jay Rosen, Chief Financial Officer at TRSDC, said, "This is another milestone for the Red Sea Project and Vision 2030, and we are pleased to have secured our debt financing and capital commitment for our initial phase. This financing adds another level of credibility by having the banks support the project. With a fully secured capital structure our project will become more attractive to investors."


Clic here to read the story from its source.