Saudi Fund for Development signs $ 75 m financing agreements for Turkish banks

Saudi Fund for Development has agreed to provide credit facilities to finance the export of goods and national services amounting to $ 75 m for the benefit of a number of banks of the Republic of Turkey.

The Director General of the Fund's Saudi Exports Program Ahmed bin Mohammed Al-Ghannam said In a press statement, carried by Saudi Press Agency, SPA, today that the agreements for providing these facilities signed in Istanbul recently come as part of the continuing efforts of the Fund to increase Saudi exports and stimulate trade between the Kingdom and the brotherly and friendly countries.

He pointed out that since the launch of the Saudi exports program in 2002, the total credit finances for the export of Saudi products amounted to more than SR 50 bn.

Source:WAM