Abu Dhabi extends period of $20 bn loans to Dubai | Bangkok Post: news

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Abu Dhabi extends period of $20 bn loans to Dubai

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Oil-rich Abu Dhabi and the UAE central bank agreed Sunday to roll over $20 billion in loans to neighbouring debt-laden Dubai after it was hit by the 2009 global financial crisis. 

A picture taken on February 15, 2014 shows a view of skyline of Dubai from the sea

The government of Abu Dhabi agreed to roll over a loan of $10 billion for a renewable five years, the state news agency WAM reported.

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