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Saudi EXIM Bank inks $10mln credit line with Mauritanian Investment Bank

Riyadh: The Saudi EXIM Bank and the Mauritanian Investment Bank have established a $10

million credit line to boost Saudi non-oil exports to Mauritania and strengthen trade relations between the two countries.

The agreement was signed at the headquarters of Saudi EXIM Bank in Riyadh by Director

General of Lending Eng. Abdulatif Al-Ghaith and head of International Affairs and External Relations at Mauritanian Investment Bank Cheikhna Bashir.

Eng. Al-Ghaith said: "This agreement falls within the framework of the bank's efforts to provide

financing solutions that contribute to the development of Saudi non-oil exports and enhance their competitiveness in African markets, especially in Mauritania.

The collaboration will support the growth of exports in several key sectors of the Kingdom,

creating new trading opportunities for Saudi exporters, motivating Mauritanian importers to buy

Saudi products and services, and opening up new horizons to foster trade and investment

between the two countries. Additionally, this agreement is an extension of a series of financing

agreements that the EXIM Bank has signed with various international financial institutions."

Bashir said: “This agreement will play a pivotal role in enhancing opportunities and providing

financing for Mauritanian clients who collaborate with local exporters in the Kingdom, which will positively reflect on mutual trade.”

The agreement aligns with the Saudi EXIM Bank’s endeavor to contribute to the creation of a

diversified and sustainable economy, maximizing the economic impact of exports, in line with the goals of Saudi Vision 2030.