Global law firm Clifford Chance has advised the lenders on the Disaster Reconstruction Fund’s (DRF) inaugural € 485 million external borrowing.
The financing, which was arranged by Abu Dhabi Commercial Bank, together with Commercial Bank of Kuwait and Industrial and Commercial Bank of China (ICBC) Dubai Branch, will support public sector recovery, reconstruction, and infrastructure projects in regions affected by the recent earthquakes in the Republic of Türkiye. The financing was documented as a social loan.
Clifford Chance’s cross-border team advising on the transaction, based in Istanbul and Abu Dhabi, was led by partners Nicola Reader and Sait Eryılmaz, supported by senior associate Pelinsu Demircan and associates Marya Manna and Utku Aydın.
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