Saudi Exim Bank Sign $25 mln Accord

Saudi Export-Import Bank has signed a financing approval for the Ukrainian Export Bank, worth $25 million as a first stage, with the aim of supporting importers of Saudi goods, services and products in the Ukrainian and neighboring markets.

The signing took place on the sidelines of the bank’s first participation, in the annual meetings of the Berne Union, held in Budapest, which it recently joined, under the patronage of the CEO of the Saudi Export-Import Bank Eng. Saad bin Abdulaziz Al-Khalb.

Exploring promising opportunities for Saudi exports, in several sectors, is the foremost goal of which the irrigation and agricultural services sector, that would positively reflect on Saudi-Ukrainian trade relations.

The Bank also concluded a memorandum of understanding with the Russian Export Credit and Investments Guarantee Agency, aims to enhance cooperation between the two sides on several levels, including the exchange of experiences and effective credit practices, in a manner that enhances trade exchange between the Kingdom of Saudi Arabia and the Russian Federation.