Mashreq, a prominent financial institution in the MENA region, has structured its first Sustainability-Linked Financing (SLF) facility for Galadari Brothers, a leading UAE-based conglomerate. This landmark deal, one of the largest bilateral SLF transactions for a local conglomerate to date, ties loan pricing directly to the group’s Environmental, Social, and Governance (ESG) performance. This development marks a significant advance in Galadari Brothers’ sustainability journey, embedding measurable sustainability commitments into their core financing structure.
As one of the UAE’s longstanding diversified business groups, Galadari Brothers operates across multiple sectors, including media, heavy equipment, food and beverage, motors, engineering, real estate, and hospitality. The SLF agreement is built around three key performance indicators focusing on resource efficiency, circular economy principles, and internal capacity building aligned with ESG values. This financing deal follows Mashreq’s earlier support through a green loan in 2023, used to fund energy-efficiency retrofits at Galadari’s flagship hotel in Sri Lanka, reinforcing the group’s commitment to decarbonising its assets.
Joel Van Dusen, Group Head of Corporate & Investment Banking at Mashreq, emphasised the significance of this collaboration: “This transaction with Galadari Brothers, a name synonymous with industrial and commercial growth in the UAE, demonstrates how sustainability can be embedded into core financing structures.” He noted that sustainability-linked finance represents the future of corporate lending and expressed pride in supporting progressive sustainability ambitions in the region.
Faisal Al Shimmari, Head of ESG and Corporate Strategy at Mashreq, highlighted the broader regional implications, explaining that this deal illustrates how sustainability-linked finance can be applied across multi-sector businesses not just for environmental gains but also for social empowerment. He pointed out that inclusive KPIs and transparent governance ensure sustainability efforts extend beyond metrics to deliver meaningful societal progress.
From Galadari Brothers, Co-Chairman and Group CEO Mohammed Galadari reinforced the strategic importance of the financing deal, stating, “Aligning our financial strategy with clear ESG goals is both a business priority and a reflection of the values we stand for.” The group’s CFO R V Ramanan described the transaction as a pivotal step towards integrating sustainability into their financing model fully, underlining a commitment to responsible growth.
This transaction aligns with Mashreq’s ambitious sustainable finance agenda, part of the bank’s goal to facilitate USD 30 billion in sustainable finance by 2030. Mashreq has pioneered significant ESG-related financial deals in the region, including the largest sustainability-linked loan to date, and initiatives such as Climb2Change unify its sustainable finance, responsible banking, and social impact activities. This leadership positions Mashreq at the forefront of sustainable banking in the MENA region.
The introduction of this SLF facility signifies a broader shift in the UAE and wider Middle East markets, where companies are increasingly linking financing conditions to sustainability criteria. Earlier examples of Mashreq’s commitments include sustainability-linked facilities for other leading regional companies, such as Chalhoub Group and Landmark Retail in Qatar. These deals are characterised by KPIs that span environmental impact reductions, renewable energy adoption, and broader ESG performance, demonstrating a growing maturity and ambition in regional sustainable finance.
Galadari Brothers’ sustained partnership with Mashreq reflects a strategic alignment between financial innovation and corporate responsibility, aimed at supporting the UAE’s wider vision for sustainable and inclusive economic growth. Beyond environmental goals, this approach emphasises human-centricity and the empowerment of communities, marking an evolution in how conglomerates integrate sustainability into their long-term business models.
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Source: Noah Wire Services
- https://uaenews247.com/2025/06/19/mashreq-structures-debut-sustainability-linked-financing-for-galadari-brothers/ – Please view link – unable to able to access data
- https://uaenews247.com/2025/06/19/mashreq-structures-debut-sustainability-linked-financing-for-galadari-brothers/ – Mashreq, a leading financial institution in the MENA region, has structured the first Sustainability-Linked Financing (SLF) for Galadari Brothers, a UAE-based conglomerate. This facility ties pricing to ESG performance across one of the UAE’s most prominent conglomerates, marking a significant step in advancing their sustainability journey. The SLF introduces performance-based pricing linked to three core Key Performance Indicators (KPIs) centered around resource efficiency, circular economy, and internal capacity building and institutional alignment with ESG principles. The financing builds on the group’s inaugural green loan previously extended by Mashreq in 2023 to support energy-efficiency retrofits at Galadari’s flagship hotel in Sri Lanka.
- https://www.mashreq.com/en/uae/news/2023/november/mashreq-galadari-brothers/ – In November 2023, Mashreq partnered with Galadari Brothers Co. LLC, a UAE-based conglomerate, to provide their inaugural green loan facility. This collaboration marks a significant leap towards environmental sustainability, with the sustainable finance directed to support green retrofits and energy efficiency technologies in Galadari Brothers’ flagship hotel property in Sri Lanka. The dedicated ‘green tranche’ is expected to usher in a substantial reduction in emissions and energy consumption, paving the way for the decarbonisation of the Group’s assets and setting a new standard for eco-conscious business practices.
- https://www.khaleejtimes.com/uae/environment/galadari-brothers-collaborates-with-mashreq-for-sustainable-environment – Galadari Brothers Co. LLC, a UAE-based conglomerate, announced its collaboration with Mashreq, a leading financial institution in the MENA region, to receive their inaugural green loan facility. This facility serves as a testament to the unwavering commitment of both organisations to reducing energy consumption and emissions while addressing the pressing issue of climate change. The sustainable finance will be directed to support green retrofits and energy efficiency technologies in Galadari Brothers’ flagship hotel property in Sri Lanka, aiming to usher in a substantial reduction in emissions and energy consumption.
- https://www.mashreq.com/en/uae/news/2023/november/mashreq-provides-chalhoub-group-sustainability/ – In November 2023, Mashreq extended its first Sustainability-Linked Working Capital Facility to Chalhoub Group, a leading luxury retailer in the Middle East. This innovative sustainable finance product is structured around a comprehensive set of Key Performance Indicators (KPIs) for the next three years, spanning the entire ESG spectrum, beyond achieving net-zero emissions. Chalhoub Group, known for its robust sustainability framework, received validation of their 10-year Science Based Targets initiative (SBTi), aimed at significantly reducing carbon emissions and paving the way for net-zero by 2040.
- https://www.mashreq.com/en/uae/news/2024/november/mashreq-landmark-qatar-sustainability/ – In November 2024, Mashreq signed Sustainability-Linked Facilities (SLF) in Qatar with Landmark Retail, the leading value conglomerate in the retail sector in the Middle East. This marks the first time a private sector company has signed a bilateral sustainability-linked loan in Qatar. The partnership with Mashreq will further advance Landmark Retail’s sustainability objectives and contributes to the bank’s commitment to facilitate USD 30 billion of sustainable finance by 2030. The key performance indicators linked to financing include boosting renewable energy capacity and implementing advanced energy management solutions for greater efficiency and energy savings.
- https://www.khaleejtimes.com/business/mashreq-leads-record-3-25b-sustainability-linked-financing-for-gems-education – Mashreq, a leading financial institution in the MENA region, led a groundbreaking $3.25 billion leverage buyout sustainability-linked financing for GEMS Education, one of the world’s largest K-12 education providers. The financing package is poised to act as a significant catalyst for ongoing advancements in integrating sustainability within the education sector. Through this inaugural Sustainability-linked facility, Mashreq supports GEMS Education in its strategic journey towards enhanced sustainability and educational excellence. The facilities include key performance indicators (KPIs) to track ambitious sustainability performance targets, centered around Sustainable Development Goals 4 and 7.
Noah Fact Check Pro
The draft above was created using the information available at the time the story first
emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed
below. The results are intended to help you assess the credibility of the piece and highlight any areas that may
warrant further investigation.
Freshness check
Score:
8
Notes:
The narrative presents a recent development dated June 19, 2025. However, similar content was published on November 16, 2023, detailing a green loan facility between Mashreq and Galadari Brothers. ([mashreq.com](https://www.mashreq.com/en/uae/news/2023/november/mashreq-galadari-brothers/?utm_source=openai)) The earlier report focuses on a green loan for energy-efficiency retrofits at Galadari’s hotel in Sri Lanka, while the recent one discusses a broader Sustainability-Linked Financing (SLF) facility. The earlier report is a press release, which typically warrants a high freshness score. The recent narrative includes updated data but recycles older material, which may justify a higher freshness score but should still be flagged. The earlier version was published more than 7 days earlier, which is explicitly highlighted.
Quotes check
Score:
7
Notes:
The quotes from Joel Van Dusen, Faisal Al Shimmari, Mohammed Galadari, and R V Ramanan in the recent narrative are identical to those in the earlier report. This suggests potential reuse of content. The wording of the quotes is consistent, with no variations noted.
Source reliability
Score:
6
Notes:
The narrative originates from uaenews247.com, a site that appears to aggregate news content. This raises questions about the originality and reliability of the information presented. The earlier report is a press release from Mashreq, a reputable financial institution, which typically warrants a high reliability score.
Plausability check
Score:
8
Notes:
The claims about the SLF facility and its alignment with ESG principles are plausible and consistent with Mashreq’s known initiatives. The earlier report’s focus on a green loan for energy-efficiency retrofits at Galadari’s hotel in Sri Lanka is also plausible and aligns with the group’s sustainability efforts. The narrative lacks specific factual anchors, such as exact figures or detailed dates, which reduces the score and flags it as potentially synthetic. The language and tone are consistent with corporate communications, with no inconsistencies noted.
Overall assessment
Verdict (FAIL, OPEN, PASS): FAIL
Confidence (LOW, MEDIUM, HIGH): MEDIUM
Summary:
The narrative presents a recent development but recycles content from an earlier press release, including identical quotes and similar information. The source’s reliability is questionable due to its nature as an aggregator, and the lack of specific factual anchors in the narrative raises concerns about its originality. These factors collectively lead to a ‘FAIL’ verdict with medium confidence.
