Standard Chartered Bank signs Middle East sustainable finance first

Oman Shipping Company and Standard Chartered Bank have announced the bank’s first sustainable financing deal in the Middle East, worth $35mn.

The eight-year facility is linked to key sustainability targets in line with United Nations sustainable development goals and the credit margin under the facility will be adjusted based on Oman Shipping Company’s progress against sustainable targets.

The deal will support Oman Shipping’s planned operational expansion, further strengthening and increasing its capacity within a growing fleet.