Saudi Arabia's National Debt Management Centre (NDMC) has signed a cooperation pact with Nippon Export and Investment Insurance (NEXI) to expand financing opportunities for government projects implemented by Japanese companies in the Kingdom, according to an official statement.

The Saudi ministry of finance said on Thursday that the Memorandum of Cooperation will contribute to creating a comprehensive framework for cooperation between the NDMC and NEXI "in attracting financial institutions to finance various strategic projects with competitive lending terms and a flexible financing structure"

NEXI would provide financing solutions based on export credit loans, the statement noted.

NEXI will be one of the key partners in achieving the NDMC's strategic financing goals in alternative funding, said Mohammed Al-Jadaan, Chairman of the NDMC's Board of Directors.

(Writing by Syed Ameen Kader; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

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