Riyadh: The Saudi Export-Import Bank (Saudi EXIM) and the Jordanian Housing Bank for Trade and Finance (HBTF) have entered into a $10 million line of credit agreement. This initiative is set to enhance the flow of Saudi non-oil exports into Jordanian markets and strengthen trade relations between the two nations.
According to Saudi Press Agency, the agreement was formalized with the presence of Saudi EXIM Finance Department General Director Eng. Abdul Latif Al-Ghaith and HBTF Executive Vice President of Corporate Business Naser Abu Zahra. The signing ceremony was held at the Saudi EXIM headquarters in Riyadh.
Al-Ghaith stated that the agreement underscores the bank's dedication to empowering local exporters to venture into promising markets like Jordan. This initiative is part of a broader strategy designed to boost trade flows and establish strategic partnerships with international banks and financial institutions. He highlighted the agreement as a significant step towards broadening the reach of Saudi products and services in the region.