Overview

China Eximbank provides a RMB-denominated term loan to Saudi National Bank for unspecified purposes

Commitment Year•2023Country of Activity•Saudi ArabiaDirect Recipient Country of Incorporation•Saudi ArabiaSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Oct 18, 2023

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Policy Banks

Export-Import Bank of China (China Eximbank)

Receiving agencies

State-owned Banks

Saudi National Bank (SNB) (SNB AlAhli) (Formerly The National Commercial Bank (NCB))

Loan description

China Eximbank provides a RMB-denominated term loan to Saudi National Bank for unspecified purposes

Interest type•Unknown

Narrative

Full Description

Project narrative

During the Third Belt and Road Forum for International Cooperation on October 18, 2023, the Export-Import Bank of China signed a RMB-denominated term loan agreement with Saudi National Bank (SNB) — a majority state-owned Saudi commercial bank — for unspecified purpose.

Staff comments

1. Saudi National Bank is majority-owned by the Saudi Government through its Public Investment Fund and the General Organization for Social Insurance (GOSI). 2. This loan appears to be separate from a March 2023 RMB-denominated loan issued by China Eximbank to SNB for trade financing. Record ID#101046 captures that loan.