Riyadh, Saudi Arabia — The National Debt Management Center (NDMC) has finalized the arrangement for securing a Shariah-compliant revolving credit facility worth SAR 9.4 billion ($2.5 billion).
Argaam reported that the credit facility, which spans a tenure of three years, is aimed at financing the general budgetary needs, and was secured with the participation of three regional and international financial institutions.
The arrangement of these credit facilities aligns with the Kingdom’s medium-term public debt strategy, aimed at diversifying funding channels to meet financing needs at fair pricing within well-defined risk management frameworks, and in accordance with the approved annual borrowing plan, by leveraging market opportunities to execute alternative government financing activities that promote economic growth, such as financing development and infrastructure projects.
