Saudi Arabia is in discussions to increase the value of a $10 billion loan that it borrowed in 2016 from international banks, Bloomberg reported, citing sources as saying.
The Kingdom’s government may add $5 billion for the loan, the sources on Wednesday added.
“Final decisions haven’t been made and discussions may not result in a new deal, the people said. Saudi Arabia’s ministry of finance didn’t immediately respond to requests for comment,” the agency added.
In 2016, the Saudi government obtained $10 billion loan from some global banks including HSBC Holdings Plc, JPMorgan Chase & Co. and Bank of Tokyo Mitsubishi UFJ.