National Bank of Abu Dhabi (NBAD) said on Saturday it will arrange with Bank of Tokyo-Mitsubishi UPJ a Dh2.3 billion ($626.2 million) loan to Abu Dhabi's International Petroleum Investment Company (IPIC).

The loan will finance IPIC's acquisition of a 20 percent stake in Japan's Cosmo Oil Corporation, the UAE lender said in a statement.

IPIC is an investment arm of the Abu Dhabi government.-Reuters