RIYADH: Saudi Export-Import Bank (Saudi EXIM) has signed a reinsurance agreement with the Export-Import Bank of the United States (US EXIM) on the sidelines of the institution’s 92nd Annual Conference, held in Washington, D.C. from April 29 to 30, 2026.
The agreement supports the needs of Saudi institutions for US-sourced capital goods and production inputs, the Saudi Press Agency (SPA) reported on Thursday.
It also reflects Saudi EXIM Bank’s broader strategy to strengthen partnerships with international export credit agencies (ECAs), ensuring a sustainable supply of key raw materials and capital goods while expanding coverage for export activities and supply chains.
The agreement was signed by the Saudi EXIM Bank CEO, Eng. Saad Al-Khalb and US EXIM President and Chairman John Jovanovic. The signing ceremony was also witnessed by the Saudi Ambassador to the United States, Princess Reema bint Bandar Al Saud.
Eng. Al-Khalb stated: “This agreement marks a pivotal step in the journey of Saudi EXIM Bank to expand international partnerships and to further support local exporters.
Such cooperation in the field of reinsurance enhances credit coverage efficiency, further stabilises supply chains, and ensures the continued flow of essential goods and services.”
He added: “This partnership underscores our commitment to enabling the growth of Saudi non-oil exports and opening new horizons for Saudi products and services in global markets, in line with the objectives of Saudi Vision 2030 to achieve economic diversification”.
He said that this agreement comes as an extension to partnerships and trade relations between the two countries.
On the sidelines of the conference, a roundtable was held between the Saudi EXIM Bank, US EXIM, and the US-Saudi Business Council.
The discussions focused on advancing sustainable supply chains in key sectors, including mining, energy, and artificial intelligence, with an emphasis on boosting trade and strengthening economic cooperation between the two countries.
Saudi EXIM Bank reaffirmed its commitment to building strategic partnerships that enhance the efficiency of the export-import ecosystem, facilitate trade with regional and global markets, and expand commercial and investment opportunities for Saudi exporters.
The bank also highlighted its focus on supporting the development, diversification, and global competitiveness of the Kingdom’s non-oil exports through strong international collaboration.
