Saudi Neom Gets $3 Billion Loan Guarantee From Sace

(BNN Bloomberg, Toronto, 13 November 2024)  Italy’s state insurance and financial group will grant Saudi Arabia $3 billion in loan guarantees to help the kingdom develop a sprawling futuristic megacity. Insurer and export credit agency Sace agreed on 80% guarantees for loans from international banks backing Neom, the ambitious project to build a new urban area that will be bigger than Belgium, according to people familiar with the matter.