Saudi EXIM credit facilities rise to SAR 16.3B in H1 2024

18/08/2024 Argaam

Saudi EXIM credit facilities rise to SAR 16.3B in H1 2024

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

The Saudi Export-Import Bank (Saudi EXIM) has achieved a jump in credit facilities provided during the first half of 2024, totaling SAR 16.31 billion, up 128% year-on-year.

 

This growth reflects the bank's commitment to supporting Saudi non-oil exports and expanding the Kingdom's global market reach. Since its inception in 2020, the bank has consistently expanded its operations, Saudi Press Agency reported.

 

By the end of June 2024, export financing disbursements reached SAR 7.03 billion, representing a 142% increase YoY from SAR 2.9 billion. Meanwhile, export credit insurance coverage amounted to SAR 9.28 billion, a 118% rise compared to SAR 4.25 billion in the same period a year earlier.

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