The Public Investment Fund and BPI France sign a memorandum of understanding worth $10 billion
The memorandum aims to enhance cooperation between the Fund and the Bank, which is concerned with enhancing financing of French exports. The memorandum of understanding focuses on companies and projects supporting the achievement of the Kingdom’s Vision 2030, and extends for a period of five years.
Basic engine
The Public Investment Fund is a fundamental driver of the Kingdom’s Vision 2030, and one of the most prominent influential global investment entities. It leads economic transformation and diversification efforts in the Kingdom, contributing to the launch of new and promising sectors and companies, and the creation of job opportunities.
The non-binding memorandum of understanding is consistent with the Public Investment Fund’s strategy to enhance financial cooperation at the global level, in addition to building and developing long-term partnerships.
The Director of the Investor and Financial Institutions Relations Department at the Public Investment Fund, Her Highness Princess Rasis bint Saud bin Mohammed, considered the memorandum of understanding an important step in the Public Investment Fund’s strategy to build strong relations with leading international financial institutions that would provide new opportunities for French and Saudi companies. To cooperate and exchange knowledge for the common benefit of all parties.
Director General of the French National Investment Bank, Denis Louvier, explained that the agreement will benefit the two countries by strengthening trade relations between them, increasing trade flows and providing more opportunities for French companies to establish new partnerships, in addition to contributing to the advancement of the Kingdom’s Vision 2030.
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