The Saudi EXIM Bank has signed a $10 million credit line with the Mauritanian Investment Bank, a leading banking and investment services provider in Mauritania.
The deal aims to enhance Saudi non-oil exports to Mauritania as well as to bolster the trade ties between the two countries. Eng. Abdulatif Al-Ghaith, Director General of Lending at Saudi EXIM Bank, and Cheikhna Bashir, head of International Affairs and External Relations at Mauritanian Investment Bank, signed the agreement at the headquarters of Saudi EXIM Bank in Riyadh.
Eng. Abdulatif Al-Ghaith Director General of Lending – Saudi EXIM Bank
“This agreement falls within the framework of the bank’s efforts to provide financing solutions that contribute to the development of Saudi non-oil exports and enhance their competitiveness in African markets, especially in Mauritania. The collaboration will support the growth of exports in several key sectors of the Kingdom, creating new trading opportunities for Saudi exporters, motivating Mauritanian importers to buy Saudi products and services, and opening up new horizons to foster trade and investment between the two countries. Additionally, this agreement is an extension of a series of financing agreements that the EXIM Bank has signed with various international financial institutions.”
Bashir commented that, “This agreement will play a pivotal role in enhancing opportunities and providing financing for Mauritanian clients who collaborate with local exporters in the Kingdom, which will positively reflect on mutual trade.”
The agreement is line with the goals of Saudi Vision 2030, to diversify the sustainable economy while boosting the economic impact of exports. This initiative will strengthen the trade relations between the two countries by encouraging Mauritanian to import from Saudi.
