Saudi Arabia concludes €1 billion financing deal with Italy’s SACE

(Economy Middle East, UAE) Saudi Arabia’s National Debt Management Center (NDMC) has concluded a financing arrangement worth €1 billion with the Italian insurance-financial group SACE. The deal is part of a broader initiative to strengthen trade and investment relations between Saudi Arabia and Italy. The kingdom is seeking to benefit from all available financing resources for government projects as part of its Vision 2030 strategy. Notably, the financing was made through several international banks and aims to finance Saudi Vision 2030’s development and infrastructure projects. Moreover, it is Saudi Arabia’s third financing of its kind following other financing from financial institutions through other export credit agencies.