Saudi Arabia’s Public Investment Fund (PIF) and Bpifrance Assurance Export have signed a $10 billion memorandum of understanding (MoU) to enhance financial cooperation over the next five years.

This agreement focuses on supporting projects aligned with Saudi Vision 2030, aimed at diversifying the economy and reducing oil dependency.

It will facilitate collaboration between French and Saudi companies, fostering trade and investment opportunities.

PIF’s head of Financial Institutions emphasized the MoU’s role in strengthening international partnerships, while Bpifrance’s director highlighted its potential to boost Franco-Saudi commercial ties