The Saudi “Export and Import” and “ANB” conclude a cooperation agreement and a credit insurance document

The Saudi Export-Import Bank and the Arab National Bank (ANB) concluded a cooperation agreement and an insurance policy for documentary credits, as well as providing credit solutions to Saudi exporters.

The agreement aims to support Saudi non-oil exports, enable them and raise their contribution to the gross domestic product, in accordance with the goals of Vision 2030, in addition to expanding in new markets at the regional and international levels.

The Saudi Export-Import Bank signed a memorandum of understanding with the Korean Commercial Insurance Company (K-SURE), which represents the official agency for export credit in the Republic of Korea.

The signing of the memorandum aims to enhance import and export activities between the Kingdom and the Republic of Korea, including the export of environmentally friendly energy sources produced in the Kingdom, such as green hydrogen and green ammonia.

Under the terms of the memorandum of understanding, the two parties will share experiences and knowledge, cooperate to provide financing solutions, discuss mutually beneficial investments, and other services in both countries.