Gulf Construction Online - Saudi Exim signs deal with Etihad Credit Insurance

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Saudi Exim signs deal with Etihad Credit Insurance

17-10-2024

The Saudi Export-Import Bank (Saudi Exim) has signed an agreement with Etihad Credit Insurance (ECI) in bid to boost cooperation in several areas, including export financing and insurance.

This includes insurance against export credit risks and enabling small and medium enterprises to export, reported SPA.

The agreement was signed at the Berne Union's annual meeting in Hamburg, Germany.

During the event, Saudi Exim will be collaborating on strengthening export credit systems in global trade and developing trade relations and partnerships. These partnerships aim to empower Saudi non-oil exports in global markets.

Saudi Exim Bank CEO Engineer Saad bin Abdulaziz Al Khalb and Etihad Credit Insurance CEO Raja Al Mazrouei attended the signing.

Engineer Al Khalb participated in a panel discussion at the meeting where he spoke about the bank providing credit facilities worth $1.2 billion to international export houses to face global trade challenges.

He affirmed the bank's commitment to enhancing international cooperation and expanding its strategic partnerships.

He also stressed that the bank's role aligns with Saudi Arabia's commitment to renewable energy transformation by providing financial products that support sustainable business practices and that all renewable energy investments are a high priority for the bank, reported SPA.

The bank held extensive meetings with representatives of export credit agencies and financial and commercial institutions from around the world to enhance trade exchange opportunities, build bridges of communication to develop international economic and trade relations, enable local exporters to increase their export activities and enhance the access of Saudi non-oil exports to global markets, it added.