JEDDAH: Saudi EXIM Bank signd a tripartite MoU with Monsha’at and the international Islamic Trade Finance Corporation, or ITFC to launch a program to support SMEs exports.

The program aims to increase non-oil exports through providing financial facilities, training, capacity building and consultancy to small and medium size businesses.

It also focuses on raising the readiness of SMES to obtain financing from financial institutions with the possibility of private local banks joining the program.

The initial agreement was signed today in Jeddah with the presence of the Saudi Minister of Commerce Majid Al-Qasabi and Bandar AlKhorayef, the Minster of Industry and Mineral Resources.