Saudi EXIM Bank closes SAR 4 bln transactions since launch

08/04/2021 Argaam

Minister of Industry Bandar Alkhorayef

Saudi Export-Import (EXIM) Bank studied projects with an investment value of over SAR 8 billion, pledged SAR 6 billion financing and closed transactions worth SAR 4 billion since launch, Al- Ekhbariya TV reported, citing Bandar Alkhorayef, Minister of Industry and Mineral Resources.

 

These funds covered several sectors, large caps, small and medium-sized enterprises (SMEs) in 45 countries.

 

EXIM is planning to develop various financing products, Alkhorayef said, expecting the number of such products to reach 17. The bank started with only six products to help exporters finance their customers overseas, especially in high-risk countries.

 

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

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