Djibouti: Financing deal for fuel imports
Issue 328
- 22 Jul 2016
| 1 minute read
Djibouti has approved a $75m financing agreement with the International Islamic Trade Finance Corporation, part of the Saudi-based Islamic Development Bank, to support the purchase of refined petroleum products. Reuters quoted energy minister Yacin Houssein Bouh as saying the deal would allow Djibouti to gradually reduce fuel prices and ensure a regular supply of petroleum products for vehicles, power plants and domestic cooking fuel. “This project funding is to stabilise and steady prices of refined petroleum products in the event of sharp fluctuations in oil prices on international markets,” he was quoted as saying.
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