Tadweeer signs SAR 50M agreement with EXIM Bank

National Environmental Recycling Co. (Tadweeer) signed a Shariah-compliant credit facility agreement with the Saudi EXIM Bank, with a total value of SAR 50 million.

In a statement to Tadawul, the company said the financing term is for one year from the date of funding the working capital requirements.

The guarantees provided for the financing include a promissory note covering the credit facility’s value.

Tadweeer added that the purpose of the financing is to support working capital requirements.

There are no related parties to the agreement, the statement added.