Saudi finance ministry, Bpifrance sign $5bn credit line agreement
Saudi Arabia’s finance ministry and Bpifrance Assurance Export have signed a joint statement to provide a credit line of up to $5 billion.
The finance ministry of Saudi Arabia and French export credit agency Bpifrance Assurance Export have collaborated to establish a credit line worth up to $5 billion, as announced in a joint statement. Hani Al-Medaini, CEO of the National Debt Management Center, represented the Saudi Ministry of Finance, while Denis Le Veyr, CEO of Bpifrance Assurance Export, spoke for their French counterpart.
The credit line is intended to assist in financing and refinancing existing and potential agreements between French companies and entities operating in Saudi Arabia. The initiative aims to bolster economic, trade, and investment collaboration between the two nations, with a particular emphasis on infrastructure, urban development, transportation, and healthcare sectors.
Both parties emphasized the significance of ongoing communication to ensure seamless and efficient implementation of the credit line, with coordinated efforts between Saudi Arabia and France. This agreement is a part of the "Roadmap for the Next Decade," a joint strategy signed by Saudi Arabia and France in December 2024, signifying the deepening of their partnership and the convergence of their goals outlined in Saudi Vision 2030 and France 2030.
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