Saudi EXIM Bank to have remarkable impact on local exports: minister

27/03/2021 Argaam

Minister of Industry Bandar Alkhorayef

Saudi Export-Import (EXIM) Bank will play an important role in continuing the Kingdom's industrial renaissance through financing exporters and international buyers of local commodities and services, said Bandar Alkhorayef, Minister of Industry and Mineral Resources.

 

He added that the move will have a remarkable impact on the Saudi exports and national economy.

 

In December 2017, Saudi Arabia announced plans to establish an export bank with SAR 30 billion in capital to boost exports and support industrial and mining projects.

 

In February 2020, the Saudi Cabinet approved the regulations of Saudi EXIM Bank, Argaam earlier reported.

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