8 billion riyals to finance Saudi exports to 45 countries

The Minister of Industry and Mineral Resources – Bandar bin Ibrahim Al-Khuraif said: The Saudi Export-Import Bank is an important tributary to support exporters and importers, by providing credit solutions that accelerate and facilitate export operations in the private sector, with the aim of increasing the economic impact of non-oil exports on the GDP. While the financing amounted to 8 billion riyals, which included export operations to more than 45 countries around the world. During the launch of the bank’s website, he valued the interest of the government of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz to raise the percentage of non-oil exports from 16% to 50% in accordance with the goals of the Kingdom’s Vision 2030.

Al-Khorayef explained that the bank, which was launched recently, will continue its efforts to reduce the gaps in financing Saudi exports, and to serve various segments of the beneficiaries, such as Saudi exporters and foreigners with industrial or commercial activities in the Kingdom, which will help provide an appropriate environment for the arrival of the Saudi product to various regional and global markets.

For his part, the CEO in charge of the Saudi Export and Import Bank, Dr. Nayef bin Abdulrahman Al-Shammari, indicated that the launch of the bank’s website comes as part of a plan to develop electronic services that meet the aspirations of customers and beneficiaries, and in line with the Kingdom’s adoption of digital transformation, and the website was prepared at saudiexim.gov. sa according to modern technologies that allow users and beneficiaries to submit financing requests easily and conveniently, and to obtain information and data that help them determine the appropriate financing products for them and facilitate communication methods with the bank’s team. Al-Shammari emphasized that the bank seeks to continue developing distinguished and integrated electronic services managed by trained national competencies.

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