Politics & News

Saudi Export-Import Bank to Participate in Hannover Messe 2024

The Saudi Export-Import Bank will participate in the Hannover Messe 2024 exhibition within the Made in Saudi Arabia pavilion, in partnership with the Saudi Export Development Authority, reported Ajel.SA.

Participation in the exhibition aims to introduce the bank’s products and services in order to enhance Saudi non-oil exports in global markets. The Hannover Messe 2024 International Industrial Fair will kick off on Monday, in the German city of Hanover, and will run for four days.

This exhibition is the largest industrial forum in the world and attracts the largest production companies in the world. It is also the world’s leading trade exhibition for industrial technology.

More than 4,000 companies from the mechanical engineering, electrical engineering and digital industries as well as the energy sector will discuss ways to achieve high- performance and sustainable industry

Last January, the Saudi Export-Import Bank (EXIM ) announced signing a cooperation agreement with the Arab National Bank.

Under this agreement, the Bank will issue bank guarantees on behalf of the Arab National Bank. This step will facilitate the process for small and medium-sized enterprises to obtain the fund necessary for completing export operations.

The agreement represents one of the models through which the Saudi Export-Import Bank activates its partnership with the private sector. Furthermore, it serves the small and medium-sized enterprise segment and enhances its export capacity.

The agreement also contributes to increasing the banking sector’s contribution to financing export operations. It provides Saudi exporters with several options to access export financing.

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