Qatar’s Al-Khalij Commercial Bank has closed a facility to finance the construction of al-Wakrah Stadium for the 2022 World Cup.

It is financing a joint venture between contractors local Midmac Contracting Company, Austria’s Porr and Belgium’s Six Construct.

They were awarded the contract for the precinct main works and masterplan project at the stadium in late 2015.

The Zaha Hadid-designed stadium will cover 90,000 square metres and have 45,000 seats.

“Whether large scale projects that impact the nation as a whole, or smaller developments that move the country towards a knowledge-based economy in accordance with QNV2030 [Qatar National Vision], Al-Khaliji is ready, willing, and has the capacity to provide the necessary financial support,” says Fahad al-Khalifa, the bank’s group CEO. “We will continue to broaden our future projects focusing on infrastructure and logistic financing leading up to the 2022 World Cup.”

HBK Contracting Company carried out enabling works for the Al-Wakrah stadium project.

Aecom is the design consultant and the local office of Kuwait-based KEO Consultants is the project manager.

Al-Khaliji previously extended finance for Midmac’s work on the Lusail CP4 infrastructure construction contract at the Lusail development. A joint venture of Midmac and Turkey’s Yuksel won the estimated $460m contract in 2012.

Midmac also won a $300m contract, in a joint venture with Six Construct, to upgrade the existing Khalifa Stadium in 2014.

A joint venture of Italy’s Salini Impregilo, the local Galfar Engineering and Italy’s Cimolai was awarded the €770m ($850m) contract by the local Aspire Zone to build the Al-Bayt stadium in Al-Khor.