Riyadh: The Saudi EXIM Bank has signed a $50 million credit facility agreement with DL Hudson Limited, aiming to promote the growth of Saudi non-oil exports by connecting local exporters with international buyers in over 22 markets worldwide.

Under the agreement, Saudi EXIM Bank, through its International Buyer Finance Product, will provide financing to DL Hudson Limited to purchase Saudi products and distribute them to customers across various global markets. UK-based DL Hudson Limited specializes in trading ferrous and nonferrous metals, as well as energy.

The agreement was signed by Director General of the Finance Department at Saudi EXIM Bank Eng. Abdulatif Al-Ghaith and Chief Operating Officer of DL Hudson Limited Moises Portillo, in London, UK.

Regarding the agreement, Director General of the Finance Department at Saudi EXIM Bank Eng. Abdulatif Al-Ghaith said, "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 creating new trade opportunities for local exporters by linking them to many global markets." Eng. Abdulatif Al-Ghaith also praised DL Hudson's expertise in trading metals, expressing his appreciation for the cooperation and looking forward to future opportunities.

Saudi EXIM Bank, a development bank under the National Development Fund, plays a key role in diversifying the Kingdom of Saudi Arabia's economic base. It strengthens the export system for national non-oil products and services by addressing financing gaps and minimizing export risks. These efforts support the growth of the non-oil economy in alignment with the Kingdom's Vision 2030.