2025-10-07
QDB, Saudi Arabia’s NDMC Sign LoI To Boost Bilateral Co-Operation
Qatar Development Bank (QDB) and the Saudi National Debt Management Center (NDMC) signed a letter of intent (LoI) at the NDMC's premises in Riyadh yesterday, with the aim of advancing co-operation and trade exchange between the two countries.
This co-operation intends to support Qatari exports and promote their presence in the Saudi market. It enhances the financing of the purchase of products and services from Qatari exporters and contractors, particularly in the engineering, procurement, and construction (EPC) sectors related to infrastructure projects in Saudi Arabia, QDB clarified in a statement.
The LoI was signed by QDB CEO Abdulrahman bin Hesham al-Sowaidi, and CEO of NDMC, Hani bin Medaini al-Medaini.
QDB plans to provide five-year credit facilities worth $1bn to Saudi institutions through arrangements by NDMC.
These facilities are expected to achieve substantial growth in the volume of Qatari exports to Saudi Arabia in the years ahead amid new development projects in Saudi Arabia's infrastructure.
This co-operation intends to support Qatari exports and promote their presence in the Saudi market. It enhances the financing of the purchase of products and services from Qatari exporters and contractors, particularly in the engineering, procurement, and construction (EPC) sectors related to infrastructure projects in Saudi Arabia, QDB clarified in a statement.
The LoI was signed by QDB CEO Abdulrahman bin Hesham al-Sowaidi, and CEO of NDMC, Hani bin Medaini al-Medaini.
QDB plans to provide five-year credit facilities worth $1bn to Saudi institutions through arrangements by NDMC.
These facilities are expected to achieve substantial growth in the volume of Qatari exports to Saudi Arabia in the years ahead amid new development projects in Saudi Arabia's infrastructure.
Source: GULF TIMES