Ministry of Finance Signs a Memorandum of Understanding with Bpifrance Assurance Export
Bpifrance and the Ministry of Finance of the Kingdom of Saudi Arabia are joining forces to support project financing for French companies established in Saudi Arabia.
A memorandum of understanding was signed on April 1st, 2020 by François Lefebvre, Executive Director of Bpifrance Export Insurance and H.E. Mohamed Bin Adbullah Al-Jadaan, Minister of Finance of Saudi Arabia. The main objective of this act is to solidify the different commercial exchanges between the two countries, namely the reinforcement of exports and investments of French companies established in Saudi Arabia.
The two parties expressed their satisfaction with the new agreement and its role in strengthening bilateral economic relations between France and the Kingdom.
Bpifrance will provide this support through its credit insurance product.
This MOU reinforces Bpifrance’s support of Saudi Arabia's strategic plan "Vision 2030" in which several national development projects involving French companies will be carried out.