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RIYADH: The Saudi Export-Import Financial institution, also called Saudi EXIM, authorised loans value SR1.7 billion ($450 million) in 2021, with 51 p.c of the full financing given to small and medium enterprises, based on the financial institution’s CEO, Saad Alkhalb.
The financial institution additionally reported a complete income of SR39.48 million in 2021.
Citing its annual report, Argaam reported that this financing helped Saudi merchandise attain greater than 50 nations together with India, Germany, China, the US, Indonesia, and so forth.
Out of the full, 24.5 p.c of the loans had been issued to the meals merchandise sector, adopted by iron and metal, and rubber and plastics sectors with 10.5 p.c and eight.4 p.c respectively.
Alkhalb added that the financial institution’s versatile financing merchandise contributed to growing the import of Saudi merchandise by way of direct financial institution cost to suppliers, and pre-export financing by way of confirmed buy orders for Saudi export manufacturing inputs.
He additional famous that the financial institution additionally issued ensures, import financing, worldwide provide chains, structural financing for worldwide tasks, and dealing capital financing.
In its annual report, Alkhalb revealed that the financial institution additionally launched an insurance coverage safety plan for Saudi exporters who face dangers of non-payment by worldwide consumers as a consequence of business causes or geopolitical tensions.
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