The Saudi EXIM Bank and the Mauritanian Investment Bank have established a $10 million credit line to boost Saudi non-oil exports to Mauritania and fortify trade relations between the two nations.
The agreement was signed by Eng. Abdulatif Al-Ghaith, Director General of Lending at Saudi EXIM Bank, and Mr. Cheikhna Bashir, Head of International Affairs and External Relations at Mauritanian Investment Bank, at the headquarters of Saudi EXIM Bank in Riyadh.
Commenting on the partnership, Eng. Al-Ghaith stated: "This agreement falls within the framework of the Bank's efforts to provide financing solutions that contribute to the development of Saudi non-oil exports and enhance their competitiveness in African markets, especially in Mauritania. The collaboration will support the growth of exports in several key sectors of the Kingdom, creating new trading opportunities for Saudi exporters, motivating Mauritanian importers to buy Saudi products and services, and opening up new horizons to foster trade and investment between the two countries. Additionally, this agreement is an extension of a series of financing agreements that the EXIM Bank has signed with various international financial institutions."
Echoing similar sentiments, Mr. Bashir said that “this agreement will play a pivotal role in enhancing opportunities and providing financing for Mauritanian clients who collaborate with local exporters in the Kingdom, which will positively reflect on mutual trade".
It is worth mentioning that the agreement aligns with the Saudi EXIM Bank's role in contributing to the creation of a diversified and sustainable economy and maximizing the economic impact of exports, in line with the goals of Saudi Vision 2030.
