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Demand for $10 billion Dubai fund not in doubt, says NBAD chairman

There will be demand for the second tranche of a $20 billion bond program…

October 12, 2009 3:47 by



There will be demand for the second tranche of a $20 billion bond program used to help troubled Dubai-based corporations, National Bank of Abu Dhabi’s (NBAD) chairman told reporters in Abu Dhabi on Monday.

Nasser Ahmed Khalifa al Sowaidi said: “Demand will be there. No doubt about it,” reported Bloomberg.

Emaar’s chairman Mohammed Alabbar told CNN the Dubai government is likely to raise the $10 billion in November. He also said he expects the majority of financing to come from the government.



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