Riyadh: The Ministry of Finance signed a joint statement with Bpifrance Assurance Export on Monday to establish a dedicated credit line of up to US$5 billion. CEO of the National Debt Management Center Hani AlMedaini signed the statement on behalf of the ministry, alongside Managing Director of Bpifrance Assurance Export Denis Le Fers.
According to Saudi Press Agency, the statement aims to strengthen economic, trade, and investment cooperation between Saudi Arabia and France. The two sides will work together to finalize the operational arrangements for an initial credit line of up to US$5 billion. This will help ensure its swift implementation in line with the timelines of relevant projects.
The two sides will also maintain regular and structured dialogue to ensure the credit line is implemented smoothly, efficiently, and in a coordinated manner. The credit line will be used to finance and refinance existing and future contracts carried out by French companies. It will support the objectives of Saudi Vision 2030, with a particular focus on infrastructure, urban development, transport, and healthcare.
The joint statement comes within the framework of the strategic partnership roadmap for the next decade, signed by Saudi Arabia and France in December 2024. It reflects the expanding scope of bilateral cooperation and the shared ambitions of Saudi Vision 2030 and France 2030.