NEXI Signs MOC with Saudi Arabia’s Ministry of Finance

Nippon Export and Investment Insurance (NEXI; Chairman and CEO: Atsuo Kuroda) has concluded a Memorandum of Cooperation (MOC) with the National Debt Management Center (NDMC; Chairman: Mohammed bin Abdullah Al-Jadaan) of the Kingdom of Saudi Arabia (Saudi Arabia), as the responsible entity for managing the public debt of the Ministry of Finance (MOF; Minister of Finance: Mohammed bin Abdullah Al-Jadaan) of Saudi Arabia. The signing of the MOC was announced at the fifth Saudi-Japan Vision 2030 Ministerial Meeting held online on December 15th, 2020.

For Japan, Saudi Arabia is the largest exporter of crude oil, and one of the most important countries in ensuring energy security. Japan is currently supporting Saudi Arabia to pursue social and economic reforms. In this context, both governments have launched the Saudi-Japan Vision 2030, as a “compass of new strategic partnership” between the two countries.

This MOC aims to facilitate information exchange between NEXI and NDMC, MOF on regional development, international financial markets, and projects of common interest to both countries. Also, NEXI will be considering providing loan insurance for financing to MOF. These initiatives under the MOC are expected to contribute to Saudi Arabia’s economic development and to boost Japanese companies’ business expansion in Saudi Arabia, as part of the Saudi-Japan Vision 2030.

By developing partnerships with foreign governments, NEXI will continue to actively support the effort of the Japanese government to address its diplomatic/trade issues, to promote infrastructure exports, and to provide financial support for cooperation projects that will contribute to strengthen bilateral economic ties in order for Japan to secure resources in the future.

Contact:
Natural Resources Group I, Structure and Trade Finance Insurance Department
Telephone: +81-3-3512-7672