Saudi EXIM Bank to provide $2.3 billion to non-oil exporters

Published 17 Aug,2021 via Arab News - Economy RIYADH - Saudi EXIM Bank CEO Saad Al-Khalb said the bank has so far accepted more than 81 financing requests worth SR9 billion ($2.3 billion).

The Saudi Export-Import Bank (EXIM) on Tuesday signed a memorandum of understanding (MoU) with the Federation of Saudi Chambers (FSC) to provide importers and exporters loans and other financial services.

In an e-mailed statement, the federation said the MoU is part of the Kingdom’s efforts to diversify its economy and see 50 percent of its non-oil GDP coming from non-oil exports.

FSC President Ajlan bin Abdulaziz Al-Ajlan said the MoU signed with EXIM seeks to support efforts in increasing non-oil exports and provide credit solutions to the business community to improve the competitiveness of the Saudi products.

Copyright © Saudi Research & Publishing Co. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)

DISCLAIMER: This content is provided to us “as is” and unedited by an external third party provider. We cannot attest to or guarantee the accuracy of information provided in this article from the external third party provider. We do not endorse any views or opinions included in this article.