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SFD signs $10m agreement with National Bank of Iraq

SFD signs $10m agreement with National Bank of Iraq
The deal offers a repayment period of up to 36 months
NBI
BNOI
9.65% 1.25 0.11

Riyadh- Mubasher: The Saudi Fund for Development (SFD) has penned an agreement with the National Bank of Iraq (NBI) to provide credit facilities worth $10 million to Iraqi investors willing to import Saudi products.

The five-year deal offers a repayment period of up to 36 months, SFD tweeted on Sunday.

SDF said the agreement is part of the $1.5 billion allocations by the Saudi government to support the reconstruction and development of Iraq.

NBI is a subsidiary of Jordan’s Capital Bank Group, which offers banking solutions through its network.

In April, the Saudi fund signed an export financing agreement worth $50 million with Egypt’s Canal Sugar Company.