Saudi EXIM Bank and Mauritanian Investment Bank Sign $10 Million Credit Line Agreement

KSA, 13 August, 2024 : The Saudi EXIM Bank has signed a $10 million credit line agreement with the Mauritanian Investment Bank, aimed at boosting Saudi non-oil exports to Mauritania and enhancing trade relations between the two nations.

The agreement was inked at the Saudi EXIM Bank’s headquarters in Riyadh by Eng. Abdulatif Al-Ghaith, Director General of Lending, and Cheikhna Bashir, head of International Affairs and External Relations at the Mauritanian Investment Bank.

Eng. Al-Ghaith emphasized that this partnership is part of the bank’s efforts to provide financing solutions to develop Saudi non-oil exports and improve their competitiveness in African markets, particularly Mauritania. The collaboration is expected to create new trade opportunities for Saudi exporters and motivate Mauritanian importers to purchase Saudi products and services.

Cheikhna Bashir highlighted the agreement’s pivotal role in enhancing financing opportunities for Mauritanian clients working with Saudi exporters, contributing to mutual trade growth.

This initiative aligns with Saudi EXIM Bank’s commitment to fostering a diversified and sustainable economy, in line with Saudi Vision 2030.

Source : www.zawya.com