NDMC arranges SAR23.3B syndicated loan to support Saudi Binladin Group

30/10/2024 Argaam
Logo ofBinladin Group

Logo of Binladin Group

The National Debt Management Center (NDMC) finalized with local and international banks the arrangement of a SAR 23.3 billion syndicated loan for the Ministry of Finance.
 

In a statement today, Oct. 30, NDMC said this comes as part of the measures taken to support Saudi Binladin Group in order to ensure the stability of its financial structure through several arrangements to settle the group's cash obligations to banks.
 

NDMC added that this comes as part of continued government support for the construction sector, enhancing the completion of vital projects and creating attractive investment opportunities within the sector in alignment with Saudi Vision 2030.
 

According to Argaam data, the Ministry of Finance had previously announced its intention to take several measures to support the Binladin Group to stabilize its financial structure.
 

These measures include various arrangements to settle the group’s cash obligations to banks, such as providing loans to the group and considering an increase in the government’s stake in it.

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