City Bank has arranged an ECA (Export Credit Agency) backed long term financing of EUR 28.63 million to facilitate Western Engineering Limited, a local leading dredging solution provider, importing 10 dredgers from Royal IHC, Netherlands.
Under the arrangement, Dutch ECA Atradius Dutch State Business (Atradius) provided ECA cover to Commerzbank and AKA Ausfuhrkredit-Gesellschaft mbH (AKA) bank, based on which they have extended a term loan of EUR 28.63 million to Western Engineering through City Bank.
