Saudi Export-Import Bank (Saudi EXIM Bank) has signed a reinsurance agreement with the Export-Import Bank of the United States (U.S. EXIM) during the latter’s 92nd Annual Conference, held in Washington, D.C. from April 29 to 30, 2026.
The agreement supports the needs of Saudi institutions for U.S.-sourced capital goods and production inputs and aligns with the efforts of Saudi EXIM Bank to strengthen partnerships with international export credit agencies (ECAs) to secure a sustainable flow of essential raw materials and capital goods, while enhancing coverage for export activities and supply chains.
In the presence of Saudi Ambassador to the United States Princess Reema bint Bandar Al Saud, the agreement was signed by Saudi EXIM Bank CEO Eng. Saad Al-Khalb and US EXIM President & Chairman John Jovanovic.
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 stabilizes 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”, adding 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 Saudi EXIM Bank, US EXIM and the US-Saudi Business Council.
Discussions focused on advancing sustainable supply chains across the mining, energy, and artificial intelligence sectors, supporting trade growth and strengthening economic cooperation between the two nations.
Saudi EXIM Bank remains committed to fostering strategic relationships that enhance the efficiency of the export and import ecosystem, facilitate trade with regional and global markets, and promote commercial and investment opportunities for Saudi exporters across diverse sectors, with a focus on international partnerships supporting the development, diversification and global competitiveness of Saudi non-oil exports.
Source: Riyadh Daily