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Etihad Airways becomes first airline to raise funds tied to UN sustainable development

Posted 9 December 2019 · Add Comment

Etihad Airways has become the first airline to secure funding for a project based on its compatibility with the Sustainable Development Goals of the United Nations.

 

Through a partnership with First Abu Dhabi Bank and Abu Dhabi Global Market, the airline will borrow 100 million Euros (AED 404.2 million) to support expansion of the Etihad Eco-Residence, a sustainable apartment complex for the airline’s cabin crew.

Adam Boukadida, senior vice president treasury, tax & finance, Etihad Aviation Group, said the process to secure the loan hinged on a detailed international verification of the airline’s sustainability credentials. 

“We are proud to be the first airline globally, and one of the first companies in the UAE, to obtain commercial funding based on our commitment to the Sustainable Development Goals of the United Nations,” said Boukadida

“This assessment will enable us to fund long-term leases of the new Eco-Residence complex, located in Abu Dhabi’s Masdar City innovation precinct, and will serve as the foundation for Etihad to fund future sustainable initiatives.”

“It will also highlight the growing specialisation of Abu Dhabi as a centre of excellence for financing sustainable projects, at a time of increasing global demand for ethics-based development.” 

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