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Saudi EXIM ratifies SAR 9.4 billion credit facilities to boost exports

Saudi Arabia approves 9.4 billion riyals of credit facilities to support “export activities”

The Saudi Export-Import Bank (Saudi EXIM) revealed that it had approved credit facilities worth SAR 9.4 billion from the beginning of 2022 AD until the end of the third quarter. Various vitality such as fertilizers, petrochemicals, glass, plastics, iron and steel, and others.

According to the bank’s recently issued third quarter performance bulletin, until the end of last September, 37 credit applications had been approved, including 24 applications for financing and 13 applications for export credit insurance since the beginning of the year.

These credits contribute to supporting export deals to international markets in more than 60 countries around the world, including the United States of America, the United Kingdom, the People’s Republic of China, the Kingdom of Sweden, the Republic of India, the French Republic, the Islamic Republic of Pakistan, and many countries in Asia, Africa, Europe and America Southern.

These credits came as part of Saudi EXIM efforts to provide more financing and insurance solutions to develop the export of national products and increase export opportunities for non-oil goods and services, thus increasing their competitiveness in the regional and global markets.

It enhances trade exchange between the Kingdom and its partners, in line with the Bank’s strategy for the next five years, which aims to enable national non-oil exports to reach global markets, by closing financing gaps and reducing export risks.

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