The SEP was established in order to assist in the diversification of the national economy and specifically to increase the amount of non-oil exports from the Kingdom of Saudi Arabia. SEP may provide financing and guarantee services to both domestic and foreign entities, as well as provide a wide range of insurance product to support the needs of non-oil exporters. SEP employes commercial disciplines in its financial and incurance activities and sitrves to conduct its activities at a pace compatible with those of the private sector. However its objective is to operate on a self sustaining basis and is not profit oriented, thus allowing the private sector to benefit from its services at the lowest possible cost.

Program Objectives

The main Objectives of the Program are summarized as follows

• Development and diversification of Saudi non-oil exports
• Maximizing the competitiveness of Saudi exports by providing credits to foreign buyers and/or institutions
• Motivate Saudi exporters to discover and enter new markets by mitigating risks associated with non-payment and,
• Encourage and enhance the involvement of Saudi exporters in projects which are funded/managed by the Saudi Fund for Development