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FinancialNews
07-01-21
Saudi Arabia signs deal with Korea Trade Insurance Corporation
(MENAFN)The signing of a long-term financing deal with the Korea Trade Insurance Corporation (K-SURE) was declared by the Ministry of Finance (MoF), represented by the National Debt Management Center (NDMC), on Wednesday.
According to the Saudi Press Agency, the facility was managed through the NDMC, and the deal was signed by Minister of Finance Mohammed Al-Jadaan and the chairman of K-SURE, Lee In-ho.
The signing was in line with the collaboration framework amid two G20 members, stated Al-Jadaan.
CEO of NDMC, Fahad A. Al-Saif, approved the financing reached to USD3 billion and stated the transaction generated interest from lenders from globally. The deal was closed with 10 international banks.
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