Riyadh: The National Development Fund (NDF) signed an MoU with Bpifrance, in the presence of Governor of NDF Abdulaziz bin Abdulrahman Al-Arifi, on the sidelines of the visit of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister. The MoU aims to strengthen the strategic partnership, advance cooperation in development finance and investment between Saudi Arabia's development ecosystem and the French side, and explore joint opportunities that support priority sectors and encourage private-sector participation, thereby enhancing sustainable development and economic impact.
According to Saudi Press Agency, the MoU covers exploring joint financing and investment opportunities, applying global best practices, and exchanging knowledge and expertise in development finance. It also focuses on developing institutional and human capabilities and leveraging international expertise in designing financing models and investment solutions, helping translate areas of cooperation into actionable initiatives and projects with sustainable development impact.
The signing of the MoU is part of NDF and its development ecosystem's efforts to strengthen their international presence and partnerships with leading development and financial institutions, develop channels of cooperation, and explore innovative financing and investment solutions. These efforts contribute to enhancing the effectiveness of the development finance ecosystem, empowering the private sector, and advancing high-potential sectors in support of the objectives of Saudi Vision 2030.
The signing of the MoU marks a new milestone in cooperation between the National Development Fund and Bpifrance, aimed at leveraging financing, innovation, and expertise to support entrepreneurs and contribute to economic transformation, with a focus on translating areas of cooperation into tangible projects and investments and creating new opportunities for Saudi and French companies.
Bpifrance, France's public investment bank, supports companies at various stages of their development by providing financing, guarantee, and investment solutions, while supporting innovation and international expansion to enhance business competitiveness and contribute to economic growth.