“PIF” signs a memorandum of understanding with a French bank worth 10 billion dollars

The fund said in a statement that the memorandum is for a period of five years and aims to enhance cooperation between the Public Investment Fund and the French National Investment Bank to improve French export financing, and focuses on companies and projects that support the achievement of the Saudi Vision 2030 .

It is considered Fund for public investments A key driver of the Saudi Vision 2030, and one of the most prominent and influential global investment entities, the Fund leads efforts for economic transformation and diversification in the Kingdom, contributing to the launch of new and promising sectors and companies, and creating employment opportunities. The non-binding memorandum of understanding is in line 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 Fund’s statement said.

Rasis Al Saud, Director of Investor Relations and Financial Institutions at the Public Investment Fund, said: “The Memorandum of Understanding is an important step in the Public Investment Fund’s strategy to build strong relationships with leading international financial institutions and will provide new opportunities for French and Saudi companies for cooperation and knowledge exchange regarding “It’s a win-win for all parties.”

For his part, Denis Louviers, Director General of the French National Investment Bank (BBI France), said: “The agreement will benefit France and the Kingdom of Saudi Arabia by strengthening trade relations between the two countries, increasing trade flows and providing more opportunities for French companies to establish new partnership, in addition to contributing to the advancement of the Saudi Vision 2030.”