Saudi Arabia secures $666mln Shariah-compliant revolving credit facility

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The three-year facility is designed to finance Saudi Arabia’s general budgetary needs and was arranged with the participation of three regional and international financial institutions

Staff Writer, Saudi Gazette

January 3, 2025

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RIYADH — The National Debt Management Center (NDMC) announced the arrangement of a Shariah-compliant revolving credit facility worth $2.5 billion (equivalent to SR9.4 billion).

The three-year facility is designed to finance the Kingdom’s general budgetary needs and was arranged with the participation of three regional and international financial institutions.

This arrangement aligns with Saudi Arabia's medium-term public debt strategy, which focuses on diversifying funding sources to meet financing requirements at competitive rates.

The strategy operates within well-defined risk management frameworks and follows the Kingdom's approved annual borrowing plan.

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