The U.S. Export-Import Bank has approved a record-breaking $4.975 billion direct loan to help build a petrochemical complex in Saudi Arabia, the bank said.
The loan to the Sadara Chemical Company is the biggest in the bank's history, and "will support more than 18,000 American jobs across 13 states," Ex-Im Bank President Fred Hochberg said in statement.
It will allow Sadara to buy goods and services from approximately 70 American exporters, including KBR KBR.N , ABB Inc, the Dow Chemical Company DOW.N and more than 20 small businesses, the bank said.
Reuters
30 September
