Saudi National Development Fund and Bpifrance Sign Development Finance MoU
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PARIS, August 25 (Saudi Arabia Breaking News) — The Saudi National Development Fund and Bpifrance signed a memorandum of understanding on Monday to expand cooperation in development finance and investment.
The document was signed during the official visit of Saudi Crown Prince and Prime Minister Mohammed bin Salman bin Abdulaziz Al Saud to France and in the presence of NDF Governor Abdulaziz bin Abdulrahman Al-Arifi.
The MoU establishes a framework for exploring joint financing and investment opportunities between Saudi Arabia’s development finance ecosystem and the French public investment bank.
It also covers exchanges of knowledge, expertise and international best practices, alongside the development of institutional and human capabilities.
The two institutions will examine financing models and investment solutions that could be converted into initiatives and projects supporting priority sectors and private-sector participation.
The framework is also intended to create opportunities for entrepreneurs and Saudi and French companies. No individual projects, investment values, beneficiaries or implementation dates were announced.
Bpifrance provides companies with financing, guarantees and investment solutions at different stages of their development. The institution also supports innovation and international expansion.
Source: SPA
