Export-Import Bank of the U.S. Signs Memorandum of Understanding with Saudi EXIM
Riyadh, Saudi Arabia – Export-Import Bank of the United States (EXIM) President and Chair Reta Jo Lewis and Saudi Export-Import Bank (Saudi EXIM) CEO Saad Bin Abdulaziz AlKhalb today officially exchanged a signed Memorandum of Understanding (MOU) to facilitate the financing of U.S. exports to the Kingdom of Saudi Arabia. The MOU will encourage collaboration between EXIM and Saudi EXIM as well as support exports in a variety of sectors, including climate and energy security, critical minerals projects, infrastructure, transportation, and digital technology.
“This MOU represents our shared commitment to support U.S. exporters in several key sectors, including critical minerals projects which are a central part of the global energy transition,” said Chair Lewis. “We look forward to collaborating on financing opportunities that enable us to meet our mission and support U.S. exporters looking to do business in the region.”
“We are thrilled to have successfully inked a bilateral MOU with US EXIM. This milestone paves the way for a mutually beneficial collaboration between our respective banks. The relationship between Saudi Arabia and the U.S. has always been strategically important and we aim to further enhance and solidify this bond,” stated His Excellency Eng. Saad Alkhalb, CEO of Saudi EXIM. “This engagement assumes a pivotal role in boosting the economic ties between the Saudi and American markets, cultivating a prosperous exchange of products and services. The two entities will closely cooperate in diverse industries, including mining, manufacturing, storage, energy, and power distribution, amongst others.”
The MOU was exchanged today on the sidelines of the 2024 Future Minerals Forum, an event focused on creating and sustaining resilient critical minerals supply chains, which is attended by government representatives and minerals company executives from over 145 countries.
The Export-Import Bank of the United States (EXIM) is the nation’s official export credit agency with the mission of supporting American jobs by facilitating U.S. exports. To advance American competitiveness and assist U.S. businesses as they compete for global sales, EXIM offers financing including export credit insurance, working capital guarantees, loan guarantees, and direct loans. As an independent federal agency, EXIM contributes to U.S. economic growth by supporting tens of thousands of jobs in exporting businesses and their supply chains across the United States. Learn more at www.exim.gov.