The Saudi EXIM Bank has signed a USD 50 million credit facility agreement with DL Hudson Limited. The agreement focuses on promoting the expansion of Saudi non-oil exports by connecting local exporters with global buyers in more than 22 markets worldwide.
According to Industry sources, under this agreement, the Saudi Exim Bank, through the International Buyer Finance Product, will offer finance to DL Hudson Limited to purchase Saudi products and distribute them to its clients across various global markets. UK-based DL Hudson Limited specializes in trading ferrous and nonferrous metals, and energy.
The agreement was signed by the Director General of the Finance Department at the Saudi EXIM Bank, Eng. Abdulatif Al-Ghaith, and the Chief Operating Officer of DL Hudson Limited, Mr. Moises Portillo, in London, UK.
Regarding the agreement, Eng. Abdulatif Al-Ghaith stated: “This agreement comes within the framework of the bank’s endeavor to provide financing solutions that contribute to the development of Saudi non-oil exports and enhance their competitiveness in global markets, highlighting the agreement’s role in promoting exports across several key national economic sectors and create new trade opportunities for local exporters by linking them to many global markets.” Al-Ghaith also praised DL Hudson’s expertise in trading metals, expressing his appreciation for this cooperation, and looking forward to future cooperation opportunities.
Industry sources further added that the Saudi EXIM Bank, a development bank under the National Development Fund, plays a core role in diversifying the Kingdom’s economic base. It boosts the export system for national non-oil products and services by addressing financing gaps and minimizing export risks. These efforts support the expansion of the non-oil economy in alignment with the Kingdom’s Vision 2030.
