The National Debt Management Center (NDMC) has announced the completion of arrangement for securing a Shariah-compliant revolving credit facility worth USD 2.5 Bn (equivalent to SAR 9.4 Bn). The credit facility, which spans a tenure of three years, is aimed at financing the general budgetary needs, and was secured with the participation of three regional and international financial institutions.
The international credit rating agency "Fitch" praises the preliminary statement of the Kingdom's general budget for the year of 2022. The arrangement of these credit facilities aligns with the Kingdom's medium-term public debt strategy, aimed at diversifying funding channels to meet financing needs at fair pricing within well-defined risk management frameworks, and in accordance with the approved annual borrowing plan, by leveraging market opportunities to execute alternative government financing activities that promote economic growth, such as financing development and infrastructure projects.
02/01/2025
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