National Bank of Kuwait (NBK) and Kuwait Finance House (KFH) have arranged a five-year loan and Murabaha facility at $1.2 billion for Kuwait Petroleum Corporation (KPC), Zawya reported.

The facility comprises $692 million as a conventional tranche and $461 million as a Murabaha tranche.

The main aim of arranging the facility is to finance the daily general purposes of KPC.

It is worth noting that this facility comes in line with the company’s 2040 strategy to be a global integrated, full-pledged oil and gas hub.