Saudi Arabia Seeks $8 Billion Loan Amid War-Driven Economic Pressures

Saudi Arabia is seeking to diversify its financing options amidst economic pressures from the war with Iran. The kingdom has approached banks to assess their interest in a potential $8 billion loan, according to sources familiar with the matter.

The National Debt Management Centre (NDMC), which operates under Saudi Arabia's Finance Ministry, initiated discussions with lenders to explore possible financing options. This move comes as the country faces growing economic challenges due to the regional conflict, including disrupted shipping and increased import costs.

Saudi state-owned oil giant Aramco is also reportedly engaged in similar talks with banks. The kingdom has been seeking to reduce its dependence on the Strait of Hormuz by transporting oil from terminals located along its western coast.