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DAMMAM, Saudi Arabia - Saudi Arabia will establish an export bank with capital of $8 billion to support overseas sales by its industrial and mining projects, energy, industry and mineral resources minister Khalid al-Falih said on Wednesday.
"A bank for exports with a capital of 30 billion (riyals) will be established to encourage and support exports, and 5 billion riyals have been allocated as a first installment this year," he said in a speech.
(Reporting by Rania El Gamal and Reem Shamseddine; Writing by Andrew Torchia) ((andrew.torchia@thomsonreuters.com; +9715 6681 7277; Reuters Messaging: andrew.torchia.thomsonreuters.com@reuters.net))
"A bank for exports with a capital of 30 billion (riyals) will be established to encourage and support exports, and 5 billion riyals have been allocated as a first installment this year," he said in a speech.
(Reporting by Rania El Gamal and Reem Shamseddine; Writing by Andrew Torchia) ((andrew.torchia@thomsonreuters.com; +9715 6681 7277; Reuters Messaging: andrew.torchia.thomsonreuters.com@reuters.net))
