The Saudi Fund for Development signed a financing and credit facilities agreement with Al-Khuraif Trading Company in Riyadh. The agreement aims to finance the company’s programs for the export of various agricultural and industrial equipment, with a total amount of 100 million riyals. The agreement was signed on behalf of the Fund by Vice President and Managing Director Eng. Yusuf bin Ibrahim Al-Bassam, and on behalf of Al-Khuraif Trading Company by Saad bin Abdullah Al-Khuraif, Chairman of the Board of Directors of Al-Khuraif Group.

For his part, Eng. Youssef Al-Bassam urged Saudi businessmen and exporters to take advantage of the program in exporting domestic products, explaining that the Fund’s approval of these facilities comes within the framework of its ongoing efforts to increase the volume of non-oil national exports and stimulate bilateral trade with sisterly and friendly nations.

It is worth noting that the Saudi Export Program aims to provide credit facilities with competitive terms and procedures to finance and guarantee national exports and increase their competitiveness abroad.