Riyadh, December 20, 2023, The National Debt Management Center (NDMC) has announced the successful finalization of a financing arrangement totaling €1 billion through the Italian Export Credit Agency (SACE) on the 20th of December 2023. This financing initiative represents a significant milestone in strengthening commercial and investment ties between Saudi Arabia and Italy while strategically utilizing available financing avenues for government projects in alignment with the objectives of Saudi Vision 2030.
Sourced through a consortium of international banks, this funding is designated to support essential development and infrastructure projects crucial to the realization of Saudi Vision 2030. The financing arrangement marks the third such initiative, following two previous successful collaborations with financial institutions and other export credit agencies.
The financing arrangement underscores the commitment of both Saudi Arabia and Italy to fostering economic cooperation and supporting initiatives that contribute to the Kingdom's ambitious Vision 2030 goals. The funds secured through SACE will play a pivotal role in advancing key projects that drive economic diversification, innovation, and sustainability within the framework of the transformative vision for the Kingdom's future.
