The Saudi Export-Import Bank (Saudi EXIM) reported a 128% increase in credit facilities during the first half of 2024, providing SAR 16.31 billion in financing and insurance compared to the same period last year.
The growth aligns with the bank’s focus on supporting Saudi non-oil exports and expanding the Kingdom’s global market presence.
By the end of June 2024, export financing disbursements reached SAR 7.03 billion, up 142% year-on-year. Export credit insurance coverage rose to SAR 9.28 billion, up 118% from the previous year.
Saudi EXIM Bank CEO Eng. Saad Alkhalb credited the growth to government support for economic diversification and the maturity of the Saudi export sector. He noted the bank’s role in building international trade relationships and contributing to Vision 2030’s objectives, emphasising the importance of collaboration with both government and private sectors for economic growth.
