ECONOMYNEXT – The Saudi Fund for Development is offering credit facilities for Sri Lankan firms to import raw materials from Saudi Arabia, the Ceylon Chamber of Commerce said.
Ziad Alsabbaly, Marketing Specialist of Saudi Fund for Development, said credit facilities will be given with a repayment period of a minimum of 2 years and a maximum of 10 years, with a minimum grace period of six months.
The repayment period would be decided on the nature of the imports or the project, a statement said.
Sri Lankan importers of fertilizer, plastic raw materials, cables and electrical wires from Saudi Arabia will be eligible to obtain credit under the ‘Foreign Buyer Credit Assistance’ by the Saudi Fund for Development.
A meeting was conducted by the Saudi Fund for Development at the Ceylon Chamber of Commerce recently to brief its members about the credit programme.
(COLOMBO, June 06, 2017)