Saudi Export-Import (Saudi EXIM) Bank and Aujan Coca-Cola Beverages Company (ACCBC) have signed a credit facility agreement aimed at providing liquidity to meet the company's working capital needs related to exports, thereby enhancing the growth of Saudi non-oil exports in global markets.
The agreement was signed by H.E. Eng. Saad bin Abdulaziz Alkhalb, CEO of Saudi EXIM Bank and Mr. Abdullah bin Adel Al-Aujan, Executive Chairman of Al-Aujan Holding Group, in Dubai, UAE.
H.E. stated: "The core mission of the Saudi EXIM Bank is primarily focused on supporting the pillars of Vision 2030, which is centered on empowering the non-oil Saudi economy by increasing the share of non-oil exports and raising their contribution to the total non-oil GDP. On this basis, we are committed to enabling local exporters to expand their export activities and motivate them to contribute to the national economic development by leveraging the capabilities offered by the bank. The working capital finance product is one of the appropriate solutions for the needs of local exporters at all stages of export activities." He added: "We are pleased to collaborate with ACCBC, as it is one of the leading companies in exporting Saudi Products in the consumer sector in the Middle East. We wish them continued progress and success in their business and export plans."
For his part, Mr. Abdullah Al-Aujan commented: "Today marks a significant turning point for ACCBC with the establishment of our agreement with the Saudi EXIM Bank. This agreement is a fundamental element of our ambition to double our export capacity and aligns perfectly with the strategic goals of Vision 2030. With the bank's support through this agreement, we are in an excellent position to enhance our competitiveness in global markets and contribute to supporting the growth of national income and economy."
