The Saudi Export-Import Bank revealed a strategy to boost openness to the business sector to maximize the competitiveness of the Saudi product in global markets, announcing the approval of more than 81 financing requests worth 9 billion riyals ($2.4 billion) for more than 46 countries around the year.
Eng. Saad Alkhalb, CEO of the Saudi Export-Import Bank, told Asharq Al-Awsat that the bank was currently working to support all Saudi exports to all countries of the world, including African countries, adding: “The bank will build on investment insurance products to help Saudi exporters invest and export in all African countries, including Sudan. We also intend, in the coming period, to communicate with the African Export Bank, at its headquarters in Cairo, to discuss ways of cooperation between the two banks in order to develop African exports.”
Addressing an open meeting with business owners organized on Tuesday by the Federation of Saudi Chambers in Riyadh, in cooperation with the Saudi Export-Import Bank, Alkhalb disclosed a plan of many platforms to enhance transparency, according to periodic reports that enable the beneficiaries to access information and data required for each stage.
He pointed to the government’s efforts to support the development and industry systems in the Kingdom, noting that the business sector had contributed to the success of this trend.
For his part, Ajlan Al-Ajlan, President of the Federation of Saudi Chambers, underlined the importance of strengthening cooperation with the Export-Import Bank in order to support the bank’s efforts in exporting non-oil products, and providing financing and credit solutions that increase the competitiveness of the Saudi product.
In addition, a MoU was signed between the Federation of Saudi Chambers and the Saudi Export-Import Bank aimed at enabling exporters and importers to obtain financial and advisory services provided by the bank, as part of joint efforts to promote Saudi non-oil exports, in order to achieve the aspirations of the Kingdom’s Vision 2030.
The scope of cooperation between the two sides, according to the terms of the MoU, includes working to provide financial and advisory services to exporters and importers, introducing the services and products provided by the bank through dedicated workshops within the chambers of commerce, communicating with factories and investors, and explaining the facilities provided by the bank and the procedures necessary to obtain the financing and different services.
