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Saudi Arabia's PIF and Bpifrance sign $10bn finance deal

^{Published on 2024-12-05 07:00:44 - Bill Williamson, WOPRAI}
 

• Saudi Arabia's Public Investment Fund (PIF) and Bpifrance Assurance Export, represented by the French Treasury office in Riyadh, have announced the signing of a memorandum of understanding (MoU) to strengthen the bilateral partnership and cooperation.

The Public Investment Fund (PIF) of Saudi Arabia and Bpifrance, the French public investment bank, have signed a $10 billion finance deal aimed at fostering economic cooperation between Saudi Arabia and France. This agreement, signed during the Saudi-French Investment Forum in Paris, focuses on co-investment in various sectors including energy, tourism, and technology. The deal is part of PIF's strategy to diversify Saudi Arabia's economy away from oil dependency, aligning with the goals of Vision 2030. It also seeks to enhance bilateral investment flows, promote innovation, and support projects that contribute to sustainable development in both countries. The partnership is expected to leverage the strengths of both nations to explore new business opportunities and drive economic growth.

Read the Full Arabian Business Article at:
[ https://www.arabianbusiness.com/industries/banking-finance/saudi-arabias-pif-and-bpifrance-sign-10bn-finance-deal ]

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