Riyadh and Singapore, September 27, 2023 – The Saudi Export-Import (Saudi EXIM) Financial institution has signed an settlement with Trafigura, a market chief within the world commodities trade, to increase a three-year credit score facility of USD500 million.
Within the presence of Mr. Jeremy Weir, Government Chairman and CEO of Trafigura, the settlement was signed by Dr. Naif Al-Shammari, Deputy CEO of Saudi EXIM and Christophe Salmon, CFO of Trafigura. This settlement shall facilitate the acquisition of domestically produced commodities from the Kingdom of Saudi Arabia and allow Trafigura to attach Saudi producers to greater than 156 markets worldwide.
Commenting on the settlement, Dr. Al-Shammari mentioned: “Such credit score services come as a part of our ongoing efforts to develop the worldwide attain of Saudi exports. Our collaboration with Trafigura aligns with Imaginative and prescient 2030 targets and can play a pivotal position in unlocking promising funding and commerce alternatives between the Kingdom and international locations worldwide. This strategic endeavor will pave the best way for driving world financial development and advancing worldwide commerce.”
“We’re delighted to have signed this essential finance settlement with Saudi EXIM Financial institution that can additional develop our enterprise relationships within the nation,” mentioned Mr. Jeremy Weir. “It will improve the alternatives for Saudi producers of commodities reminiscent of copper, gold and downstream merchandise to entry world markets. We are going to facilitate this by harnessing our world assets, in-depth market data and experience in provide chain logistics.”
Aiming to develop Saudi non-oil exports and improve their positioning in world markets throughout numerous sectors, the Saudi EXIM Financial institution offers financing companies, ensures, and export credit score insurance coverage.
ENDS
For additional data please contact:
Saudi Exim’s Company Communication: tmgbas@saudiexim.gov.sa
Trafigura’s Press Workplace: +41 (0) 22 592 4528 or media@trafigura.com
Concerning the SaudiEXIM
It was established in 2020 with the goal of selling Saudi non-oil exports and enhancing its competitiveness throughout varied sectors in world markets. That is completed by offering financing companies, ensures and credit score insurance coverage to boost confidence in Saudi merchandise and enhance the contribution of non-oil industries to 50% by 2030 from the present share of 16%, which is a significant objective of the Kingdom’s Imaginative and prescient 2030. The Export-Import Financial institution is likely one of the improvement funds which are supervised by Saudi Nationwide Improvement Fund.
Contact channels:
* E-mail: information@saudiexim.gov.sa
* Web site: https://saudiexim.gov.sa
* X: @SaudiEXIM
* Linkedin: @SaudiEXIM
About Trafigura
Trafigura is a number one commodities group, owned by its staff and based 30 years in the past. On the coronary heart of world provide, Trafigura connects important assets to energy and construct the world. Trafigura deploys infrastructure, market experience and our worldwide logistics community to maneuver oil and petroleum merchandise, metals and minerals, gasoline and energy from the place they’re produced to the place they’re wanted, forming robust relationships that make provide chains extra environment friendly, safe and sustainable. Trafigura put money into renewable power initiatives and applied sciences to facilitate the transition to a low-carbon financial system, together with by way of joint ventures H2Energy Europe and Nala Renewables.
The Trafigura Group additionally includes industrial belongings and working companies together with multi-metals producer Nyrstar, gasoline storage and distribution firm Puma Vitality, and our Impala Terminals three way partnership. The Group employs over 12,000 folks and is energetic in 156 international locations. Go to: www.trafigura.com
