Saudi EXIM Bank has signed a reinsurance agreement with Germany’s official Export Credit Agency, managed by Euler Hermes Aktiengesellschaft, aimed at strengthening credit risk insurance coverage to support Saudi exporters of capital goods and production inputs sourced from the Federal Republic of Germany.
The agreement forms part of the bank’s broader strategy to expand cooperation with international export credit agencies, ensuring the secure and sustainable flow of essential raw materials and capital equipment while improving the efficiency and reliability of export activities for local enterprises, according to the Saudi Press Agency.
The agreement was signed by Saad bin Abdulaziz Al-Khalb, chief executive officer of the Saudi Export-Import Bank, and Edna Schone, board member of Euler Hermes Aktiengesellschaft and head of its Export Credit Agency.
Al-Khalb said the reinsurance arrangement represents an important step in strengthening credit risk management tools and enabling Saudi exporters to access the production inputs and capital goods they require with greater confidence.
He added that the agreement enhances the bank’s ability to provide advanced insurance solutions that reduce trade-related risks and support business expansion across key industrial sectors.
He also emphasized that cooperation with leading international export credit agencies reflects the bank’s commitment to developing a more resilient and competitive export ecosystem.
By broadening its range of risk mitigation instruments, the bank aims to facilitate smoother trade flows, improve access to international suppliers, and support the operational stability of Saudi companies engaged in export-driven manufacturing and production.
The partnership supports the Kingdom’s wider objectives of strengthening non-oil exports and accelerating economic diversification. As Saudi Arabia continues to reduce its reliance on hydrocarbons, access to reliable financing and insurance mechanisms has become increasingly critical for manufacturers and exporters seeking to compete in global markets.
Through this agreement, the Saudi Export-Import Bank continues to expand its international partnership network while reinforcing its role in promoting sustainable trade growth. The initiative aligns with Vision 2030 goals to diversify the national economy, enhance industrial competitiveness, and strengthen Saudi Arabia’s position within global trade and supply chains.
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