Riyadh, Saudi Arabia — The Saudi Export-Import (Saudi EXIM) Bank has signed an agreement with commodity trading company Trafigura to extend a three-year credit facility of $500 million.
The agreement was signed by Saudi EXIM Deputy CEO Dr. Naif Al-Shammari and Trafigura CFO Christophe Salmon, with the aim of facilitating the purchase of domestically produced commodities from Saudi Arabia and enabling Trafigura to connect Saudi producers to more than 156 markets worldwide.
Executive Chairman and CEO of Trafigura Jeremy Weir attended the signing.
Al-Shammari said such credit facilities were part of Saudi EXIM Bank’s ongoing efforts to expand the global reach of Saudi exports.
“Our collaboration with Trafigura aligns with Vision 2030 goals and will play a pivotal role in unlocking promising investment and trade opportunities between the Kingdom and countries worldwide,” he said.
Weir said the agreement will enhance the opportunities for Saudi producers of commodities such as copper, gold and downstream products to access global markets.
“We will facilitate this by harnessing our global resources, in-depth market knowledge and expertise in supply chain logistics,” he added.
