The Saudi Public Investment Fund (PIF) and Bpifrance Assurance Export have signed a $10 billion five-year financing agreement to boost collaboration on projects supporting Saudi Vision 2030.
The agreement is designed to foster collaboration on initiatives that align with Saudi Vision 2030, an ambitious plan to diversify and transform the Saudi economy.
“This agreement will mutually benefit both countries by strengthening Franco-Saudi commercial relationships, increasing trade flows and developing opportunities for French companies to forge new partnerships, as well as contributing to the development of Saudi Vision 2030,” said Denis Le Fers, general director of Bpifrance Assurance Export.
Rasees AlSaud, head of Financial Institutions and Investor Relations at PIF, added: “The MoU is another milestone in PIF’s strategy to further strengthen its range of strong relationships with leading international financial institutions and export credit agencies.”
The agreement is expected to unlock new opportunities for French and Saudi companies to build new collaborations, as well as exchange knowledge and experience.
