NEOM has announced the successful completion of a unique financing deal through the Italian Export Credit Agency (SACE), obtaining approximately $3 billion in flexible long-term financing facilities in multiple currencies, to support development operations in its various projects and destinations. This agreement is the first of its kind for NEOM to obtain financing through an export credit agency, and it is the largest unconditional financing provided by the Italian agency. This deal is supported by a coalition of 9 global financial institutions: HSBC, Banco Bilbao Vizcaya Argentaria, Bank of China, Credit Agricole CIB Arab Financial Company, Agricultural Bank of China, Citi, China Construction Bank, JP Morgan, and Bank of America. This agreement will enable NEOM to benefit from the services of Italian suppliers, especially small and medium-sized enterprises, to support the development of its projects in various core sectors, which include infrastructure, urban development, construction, and transportation (railways, roads, and […]