Saudi Export-Import Bank signs $25mln financing for Ukraine counterpart

Deal to support importers of Saudi goods and services, particularly agriculture

  
Image used for illustrative purpose. A Saudi money changer, pictured through a glass, arranges U.S banknotes at a currency exchange shop in Riyadh, Saudi Arabia September 29, 2016.

Image used for illustrative purpose. A Saudi money changer, pictured through a glass, arranges U.S banknotes at a currency exchange shop in Riyadh, Saudi Arabia September 29, 2016.

REUTERS/Faisal Al Nasser
RIYADH: The Saudi Export-Import Bank signed a recently approved financing worth $25 million for Ukraine state-owned Export-Import Bank (Ukreximbank) to support importers of Saudi goods, services and products in Ukraine and its neighbors, SPA reported.

This financing is considered the first credit line available to a financial institution in Ukraine, creating promising opportunities for Saudi exporters in several sectors, especially the irrigation and agricultural services sector.

Saudi EXIM also signed an MoU with the Russian Agency for Export Credit and Investment Insurance (EXIAR) to enhance cooperation between the two sides on several levels, including the exchange of experiences and effective credit practices.

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