Saudi EXIM Bank approves SAR 10 bln in credit facility applications until December 2021

Logo of the Saudi Export-Import Bank (Saudi EXIM Bank)

Saudi Export-Import Bank (Saudi EXIM Bank) approved SAR 10 billion in credit facility applications, as it received 125 applications for financing facilities since inception, Saudi Press Agency reported, citing a bank bulletin.

Small and medium enterprises (SMEs) accounted for 53% of these applications.

The bank introduced a number of financing and insurance products that cater for the needs of the Saudi exporters and importers in 60 countries, including, China, India, Belgium, South Korea, US, UAE, Netherlands, Singapore, Taiwan, Egypt and others.

These services cover several business sectors, including food industries, iron & steel, plastics & rubber, paper products, pharmaceuticals, agriculture, fish farming, construction, in addition to other prominent business fields.