Saudi EXIM Bank Signs MoU with OPEC Development Fund

The Saudi Export-Import Bank (EXIM) has signed a Memorandum of Understanding (MoU) with the OPEC Fund for International Development, reported the Saudi Press Agency (SPA).

The MoU aims to enhance cooperation in order to activate development initiatives, and promote Saudi non-oil exports in markets of common interest.

The MoU was signed by the CEO of EXIM Bank, Eng. Saad bin Abdulaziz al-Khalf, and the Director-General of the OPEC Fund for International Development, Dr. Abdulhamid Al-Khalifa, on the sidelines of the OPEC Fund Development Forum 2024 in Vienna.

In this regard, Al-Khalf said that the MoU reflects Saudi EXIM’s commitment to strengthening international partnerships, and contributing to sustainable development initiatives in cooperation with the international community.

He added that the MoU also focuses on promoting Saudi non-oil exports in global markets, and paving the way for local investors, hence enabling non-oil national economy and creating diversified and comprehensive economy in alignment with Vision 2030.

Moreover, Al-Khalf praised the OPEC Fund for International Development’s role in achieving economic growth in more than 70 countries worldwide, expressing his excitement about Saudi EXIM being a partner in this role.

OPEC Fund Development Forum

Eng. Al-Khalf headed the Saudi EXIM delegation participating in the OPEC Fund Development Forum 2024 in Vienna, to explore cooperation opportunities in international development initiatives and bolster trade ties and partnerships to promote Saudi non-oil exports.

On the sidelines of the Forum, Al-Khalf held a series of meetings with several ministers and CEOs of international commercial and development institutions. He held discussions with Minister of State for Financial Affairs in the Maldives, Hussain Adam, on enhancing cooperation for promoting Saudi exports in Asian markets.

Furthermore, Al-Khalf met with the CEO of Africa 50, Alain Ebobisse, to explore the opportunities of promoting Saudi non-oil exports in African markets.

He also discussed opportunities for expanding Saudi non-oil exports in Latin American and Caribbean markets during his meetings with the Vice President for Financial Affairs at the Development Bank for Latin America and the Caribbean (CAF), Gabriel Filipito, and the Chief Strategy Officer at the Inter-American Development Bank (IDB), Gabriel Azevedo.

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