Saturday, 13 April 2024

NDMC finalizes securing $ 11 billion syndicated loan to ‎accelerate ‎development and infrastructure projects

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​The National Debt Management Center (NDMC) announces it has finalized the arrangement to secure USD 11 billion syndicated loan. This transaction is part of the Saudi government Medium-Term Debt Strategy to diversify the Kingdom’s funding sources to meet the Kingdom’s financing needs at a fair cost in the medium to long term with an acceptable degree of risk. In accordance with the approved Annual Borrowing Plan, this transaction seeks to take advantage of market opportunities to implement alternative government financing activities that would enhance economic growth, such as financing development and infrastructure projects related to Saudi Vision 2030.

Securing the USD 11 billion, with a ten-year term loan, by 14 international financial institutions across Asia, Middle East, Europe, and the US underscores the huge interest and confidence in the Saudi Vision 2030 and the Kingdom’s high economic resilience.

The success of the syndicated loan serves as a testament to the Kingdom’s proactive stance in securing financing sources to realize its objectives in diversifying the economy.

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