Riyadh – Mubasher: Saudi Arabia is reportedly seeking to negotiate plans to resort export-credit agencies in other countries to finance the kingdom’s infrastructure projects, informed sources told Reuters.

The oil-rich kingdom is executing a programme aimed at the diversification of the economy, which includes billions of dollars worth of infrastructure projects.

“In January last year, the country’s debt management office said it had asked banks to submit proposals for potential financing backed by export-credit agencies (ECAs),” the international news agency reported.

In 2018, Saudi Aramco, one of the largest energy companies in the world, signed a $2 billion agreement with UK Export Finance.