RIYADH — Minister of Industry and Mineral Resources and Chairman of the Saudi Export-Import (EXIM) Bank Bandar Ibrahim Al-Khorayef inaugurated Monday the headquarters of the bank in Riyadh.

Al-Khorayef toured the headquarters and met with the bank's employees.He was briefed on the bank's achievements in 2022, and the efforts exerted to empower and enhance the competitiveness of Saudi non-oil exports.

The bank has been lending support to develop the export of Saudi products, and diversify and develop the local economy through providing credit facilities and accreditations amounting to more than SR15.5 billion in 2022.

Applications for export credit insurance stood at about SR9 billion, and requests for export financing were worth SR 6.4 billion; the latter provided support to export activities in various vital sectors.

The activities supported were fertilizers, petrochemicals, glass, plastic, iron and steel, and other critical sectors targeted by the bank to support exports to more than 60 countries around the world.

In 2022, the Saudi EXIM Bank also sought to expand its international partnerships with international financial and credit institutions that allow pumping more credit lines, which would help achieve maximum benefits and help open new opportunities for Saudi exports to world markets. — SPA