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Saudi to establish $8 bln export bank for industry, mining

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Saudi Arabia will establish an export bank with capital of $8 billion to support overseas sales by its industrial and mining projects, energy, industry and mineral resources minister Khalid al-Falih said on Wednesday.

“A bank for exports with a capital of 30 billion (riyals) will be established to encourage and support exports, and 5 billion riyals have been allocated as a first instalment this year,” he said in a speech.