Saudi EXIM, Glencore sign $300M credit facility agreement

The signing of the agreement

The Saudi Export-Import Bank (Saudi EXIM) signed a $300 million credit facility agreement with Glencore, one of the world's largest commodity production and marketing businesses.

In an emailed statement to Argaam, EXIM said this agreement aims to empower Saudi non-oil exports to expand and penetrate over 156 markets across the world.

Under the agreement, EXIM Bank will finance Glencore to enhance the company's purchases of minerals exported from the Kingdom and market them to international buyers in over 156 countries.

The agreement was signed on the sidelines of the roundtable meeting hosted by EXIM Bank in cooperation with the Ministry of Industry and Mineral Resources in Geneva.