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Saudi gov’t inks MoU with Italian Export Credit Agency

Saudi gov’t inks MoU with Italian Export Credit Agency
Part of the signing ceremony

Riyadh – Mubasher: Saudi Arabia’s Ministry of Finance (MoF) on Saturday signed a memorandum of understanding (MoU) with the Italian Export Credit Agency (SACE) to support trade and investment relations between the two countries under the umbrella of the kingdom’s Vision 2020.

Under the MoU, SACE will cooperate with Saudi Arabia’s National Debt Management Center to offer ways for funding government projects and provide training and technical support for finance.

SACE is strengthening its presence in Saudi Arabia through funding projects launched by Italian companies.

The Italian agency seeks to open an office in Riyadh to create a stable communication channel between Italian companies and banks and organisations and bodies in Saudi Arabia.