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Saudi EXIM Signs Line of Credit Agreement with Ziraat Bank of Türkiye

Saudi EXIM chief executive Saad bin Abdulaziz AlKhalb signed the agreement in Istanbul, Republic of Türkiye. - SPA
Saudi EXIM chief executive Saad bin Abdulaziz AlKhalb signed the agreement in Istanbul, Republic of Türkiye. - SPA
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Saudi EXIM Signs Line of Credit Agreement with Ziraat Bank of Türkiye

Saudi EXIM chief executive Saad bin Abdulaziz AlKhalb signed the agreement in Istanbul, Republic of Türkiye. - SPA
Saudi EXIM chief executive Saad bin Abdulaziz AlKhalb signed the agreement in Istanbul, Republic of Türkiye. - SPA

The Saudi Export-Import Bank (Saudi EXIM) announced it signed a line of credit agreement worth $100 million with the Turkish Ziraat Bank, which aims at financing the export activities of Saudi non-oil products and services to Turkish markets.
The agreement comes within the EXIM’s efforts to empower the non-oil national economy and enhance the competitiveness of Saudi products in international markets, according to SPA.
Saudi EXIM chief executive Saad bin Abdulaziz AlKhalb signed the agreement in Istanbul, Republic of Türkiye.
AlKhalb explained that the agreement comes within the framework of the bank’s efforts to strengthen international trade relations to open new markets for Saudi exporters to expand their activities and increase Saudi products and services to global markets, underlying the bank’s endeavor to achieve the targets of the Saudi Vision 2030 in creating a diversified and sustainable economy, maximizing the economic impact of export activities, and increasing Its contribution to non-oil gross domestic product (GDP) to 50% by 2030.

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Saudi Ministry of Environment Issues First License for Aeroponics Agriculture in the Middle East

Saudi Ministry of Environment Issues First License for Aeroponics Agriculture in the Middle East
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Saudi Ministry of Environment Issues First License for Aeroponics Agriculture in the Middle East

Saudi Ministry of Environment Issues First License for Aeroponics Agriculture in the Middle East

The Ministry of Environment, Water, and Agriculture issued the first operational license for a commercial agricultural project utilizing aeroponics in the Middle East, reported the Saudi Press Agency on Saturday.

The project aims to contribute significantly to the local market's agricultural needs through sustainable production.

The Ministry's Undersecretary for Agriculture, Eng Ahmad Al-Ayada, made the announcement during a ceremony attended by representatives of a coalition local and international companies: Tamimi Markets Group from Saudi Arabia, Mitsui Group from Japan, and Zero Group from Italy.

Through the Green Dunes Company, the coalition will come up with modern agricultural solutions powered by cutting-edge technologies and AI. These efforts align with the Kingdom's National Agriculture Strategy and the broader goals of Vision 2030, which aim to build a sustainable agricultural future.

According to the ministry, the project's first phase has been completed. It entailed the establishment of an aeroponics farm to produce various vegetable varieties. The method is noted for its efficiency, as it reduces water consumption by 95% compared to traditional farming techniques and enables year-round productivity.

The project integrates AI and automation at all production stages, employing advanced monitoring systems and performance indicators to optimize output.