and posted in Technology

Saudi Arabia’s National Debt Management Center has successfully secured a syndicated loan of $11 billion as part of the government’s medium-term debt strategy, aimed at diversifying the Kingdom’s funding sources.

Structured for a 10-year term, the funding involved the collaboration of 14 international financial institutions spanning Asia, the Middle East, Europe, and the US.

Aligned with the approved annual borrowing plan, the transaction aims to capitalize on market opportunities to execute alternative government financing activities.

NDMC stated that it will support economic growth by funding development and infrastructure projects aligned with Saudi Vision 2030.

It added the objective is to address the Kingdom’s financial requirements judiciously over the medium to long term, balancing cost considerations and an acceptable level of risk.

NDMC emphasized that the widespread participation in this syndicated loan underscores not only immense interest but also confidence in both Saudi Vision 2030 and the Kingdom’s robust economic resilience.