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Bloomberg: China Extends $3B Loan to Qatar Petroleum
Qatar Energy, a state-owned company, has received a $3 billion loan from Chinese banks, including Bank of China, Industrial and Commercial Bank of China, Agricultural Bank of China, and China Development Bank, for a period of five years. This loan comes amid the ongoing prominent role of Chinese banks in financing the Gulf region, despite political tensions, with Chinese bank loans to the Gulf reaching a record high of $11.5 billion last year. The proceeds of the loan will be used for working capital purposes, underscoring China's continued support for Gulf borrowers despite regional challenges.
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