Export-Import Bank approves credit facilities worth 9.4 billion riyals

Saudi Arabia's trade balance

Posted in

The Export-Import Bank has approved credit facilities worth 9.4 billion riyals since the beginning of 2022 until the end of the third quarter, of which export credit insurance applications accounted for approximately 5.9 billion riyals and export financing applications worth 3.5 billion riyals to support export activities in various vital sectors such as fertilizers, petrochemicals, glass, plastics, iron and steel, to name a few.

According to the Export-Import Bank's recent third quarter performance bulletin, 37 credit applications, including 24 for financing and 13 for export credit insurance, have been approved since the beginning of the year. According to the bank's third quarter performance bulletin, as of the end of September, 37 credit applications, including 24 for financing and 13 for export credit insurance, have been approved since the beginning of the year. These credit approvals support export transactions to international markets in more than 60 countries around the world, including the United States, United Kingdom, China, Sweden, India, France, Pakistan and many countries in Asia, Africa, Europe and South America.

According to the bank's recent third quarter performance bulletin, 37 credit applications, including 24 applications for financing and 13 applications for export credit insurance, were approved since the beginning of the year. These credit lines are part of the bank's efforts to provide more financing and insurance solutions to develop the export of national products and increase export opportunities for non-oil goods and services, increasing their competitiveness in regional and global markets and enhancing trade exchange between the Kingdom and its partners, in line with the bank's strategy for the next five years, which aims to enable non-oil national exports to reach global markets by filling financing gaps and reducing export risks.

These credits come as part of the bank's efforts to provide more financing and insurance solutions to develop the export of national products and increase export opportunities for non-oil goods and services, thus increasing their competitiveness in regional and global markets and enhancing trade exchange between the Kingdom and its partners.