RIYADH — Saudi Export-Import (EXIM) Bank has signed a Memorandum of Understanding with its Nigerian counterpart to enhance cooperation aspects between the two sides.

The MoU will also increase opportunities for financing Saudi exports, and diversify resources of finance and credit services, out of the EXIM Bank’s role and ongoing endeavors to empower Saudi exporters in a way that contributes to boosting the percentage of Saudi non-oil exports and enhancing commerce.

EXIM Bank CEO Eng. Saad Bin Abdulaziz Al-Khalb and Nigerian Export-Import Bank CEO Abubakar A. Bello represented the two sides during the signing ceremony held at the EXIM Bank headquarters in Riyadh.

Al-Khalb expressed his happiness for signing the agreement with the Nigerian bank and ongoing efforts to attract partnerships that can realize additions to the Saudi non-oil exports and provide opportunities for these exports to access new markets in light of recent global plans to build alliances and empower the free economy. — SPA