Riyadh – Mubasher: The Saudi Export-Import Bank (SEX-I) is celebrating its fifth anniversary today, Wednesday. This journey has contributed to enhancing the global competitiveness of Saudi industry by enabling non-oil exports and supporting their access to global markets.

Saudi Export-Import Bank (SEX-I) has provided credit facilities worth SAR 67 billion over five years, achieving continuous upward growth. Since day one, the bank has worked to empower Saudi non-oil exports by providing a diverse and innovative range of financing and insurance products with international standards, to meet the needs of local exporters and international buyers. It has also worked to build strategic partnerships at both the local and international levels, including financial institutions, international organizations, and global trading houses. This has resulted in the signing of more than 70 international agreements to create a favorable climate for the expansion and spread of the Kingdom's exports of products and services in various markets around the world, reaching up to 150 markets.

The Saudi Export-Import Bank was established in 2020 as a result of the Kingdom's Vision 2030, in light of the drive towards a thriving economy and consolidating the Kingdom's strategic role in the global economy. It has played a pivotal role in empowering Saudi non-oil exports by bridging financing gaps and reducing export risks.

The bank is steadfastly moving forward, committed to its role in achieving sustainable economic development in the Kingdom and strengthening regional and global strategic partnerships to enable Saudi non-oil exports in global markets.

"Today, we celebrate the successful completion of the establishment phase of the Saudi Export-Import Bank, a five-year journey during which the bank has delivered exceptional performance, establishing a solid foundation for launching new horizons toward achieving its developmental and economic goals in accordance with Saudi Vision 2030," said Saad Al-Khalab, CEO of the Saudi Export-Import Bank, via his account on the X platform on Wednesday.

The Saudi Export-Import Bank aims to promote the development of Saudi non-oil exports and increase their competitiveness in global markets across various sectors. This is achieved by providing credit solutions for export financing, guarantees, and export credit insurance with competitive advantages. This is in line with the objectives and pillars of the Kingdom's Vision 2030, which aims to increase the proportion of non-oil exports to non-oil GDP.