Riyadh - Sharikat Mubasher: The Saudi EXIM Bank executed credit facilities worth SAR 16.5 billion in 2023, representing 5.2% of the total credit facilities provided for non-oil exports in the Kingdom and exceeding the planned target by 33%.

In its annual performance report for 2023, the bank revealed that it disbursed a total of SAR 7 billion, surpassing the annual target of SAR 5.8 billion by 20.6%.

The bank further provided export credit insurance for exports amounting to SAR 9.5 billion, 44% up from the set target of SAR 6.6 billion.

Over the past year, the bank signed 93 deals, encompassing 54 financing agreements, 21 insurance agreements, and 18 cooperation agreements and memoranda of understanding.

Commenting on these achievements, CEO Saad Al-Khalb said: “This year's outcomes underscore the bank's dedication to its strategic goals of forging trade links with global economies, thereby facilitating Saudi non-oil exports worldwide and contributing to the objectives of the Kingdom's Vision 2030.”

He emphasized the pivotal role of the Saudi EXIM Bank in fostering the small and medium-sized enterprises (SMEs) sector and increasing its contribution to export activities.

“This sector serves as a crucial pillar in the growth of the national economy. We will continue our endeavors to achieve the strategic objectives and remain confident in our ability to overcome challenges with the support and empowerment of our wise leadership,” Al-Khalb concluded.