The Saudi EXIM Bank has signed a USD 50 million credit facility agreement with DL Hudson Limited, which aims to promote the growth of Saudi non-oil exports by connecting local exporters with international buyers in more than 22 markets around the world.
Under the agreement, the Saudi EXIM Bank, through the International Buyer Finance Product, will provide financing to DL Hudson Limited to purchase Saudi products and distribute them to its customers across various global markets. UK-based DL Hudson Limited specializes in trading ferrous and nonferrous metals, and energy.
The agreement was signed by the Director General of the Finance Department at the Saudi EXIM Bank, Eng. Abdulatif Al-Ghaith, and the Chief Operating Officer of DL Hudson Limited, Mr. Moises Portillo, in London, UK.
Regarding the agreement, Eng. Abdulatif Al-Ghaith said: “This agreement comes within the framework of the bank’s endeavor to provide financing solutions that contribute to the development of Saudi non-oil exports and enhance their competitiveness in global markets, highlighting the agreement’s role in promoting exports across several key national economic sectors and create new trade opportunities for local exporters by linking them to many global markets.” Al-Ghaith also praised DL Hudson expertise in trading metals, expressing his appreciation for this cooperation, and looking forward to future cooperation opportunities.
The Saudi EXIM Bank, a development bank under the National Development Fund, plays a key role in diversifying the Kingdom’s economic base. It strengthens the export system for national non-oil products and services by addressing financing gaps and minimizing export risks. These efforts support the growth of the non-oil economy in alignment with the Kingdom’s Vision 2030.
About Saudi EXIM Bank:
Established in 2020, the Saudi EXIM Bank aims to empower local exporters and promote the development and diversification of Saudi non-oil exports. By offering financing and insurance products, the bank enhances the competitiveness of national products in global markets across various sectors. These efforts bolster confidence in Saudi exports, contribute to the national economy, and align with the Kingdom’s Vision 2030. The Saudi EXIM Bank is one of the development funds and banks affiliated with the National Development Fund.
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