On Tuesday 6th
of February 2024, the Government Sukuk product closed its first savings round, with a total volume of savings requests reaching (861) million riyals. The requests were fully allocated on Tuesday 13th of February 2024, where a total number of savers reaching (35) thousand.The National Debt Management Center (NDMC) announces it has finalized the arrangement of financing worth (1) billion euro through the Italian Export Credit Agency (SACE) on Wednesday 20, 2023.
This financing comes as part of the framework to strengthen the commercial and investment relations between the two countries, and to capitalize on available financing channels for government projects in alignment with Saudi Vision 2030.It is noteworthy that the return on the Government Sukuk product in February is (5.64%), where the maturity date will be in February 2025. The second savings round is scheduled to be on Sunday 3rd of March 2024, according to the published calendar for Government Sukuk. The window will be opened through digital channels of the participant financial institutions.
It is worth mentioning that this financing was provided by a number of international banks, and aims to finance development and infrastructure projects related to Saudi Vision 2030. This is the third financing of its kind after the first two provided by financial institutions through two other export credit agencies.