The Saudi Fund for Development provided development facilities to finance the export of various national goods and services, totaling $75 million, to a number of banks in the Republic of Turkey.

Ahmed Al-Ghanam, Director General of the Fund’s Saudi Export Program, explained in a press statement that the signing of these facilities took place yesterday, Tuesday, in Istanbul, as part of the Fund’s ongoing efforts to increase the volume of Saudi exports and stimulate trade between the Kingdom and its sister and friendly nations, noting that since the launch of the Saudi Export Program in 2002, the total credit lines made available by the Fund to finance and guarantee the export of various Saudi products have exceeded 50 billion riyals.

Al-Ghanam emphasized the importance of taking advantage of the facilities available through export financing agreements signed between the Fund and a number of banks in other countries, and he particularly urged small and medium-sized enterprises  (SMEs) both domestically and abroad to take advantage of these facilities, which are offered through streamlined procedures and competitive terms.