Saudi finance ministry, Bpifrance sign $5bn credit line agreement

Saudi Arabia’s Ministry of Finance signed a joint statement today with Bpifrance Assurance Export in Paris to establish a dedicated credit line with an initial value of up to $5 billion.

The statement was signed on behalf of the Ministry of Finance by Hani Al-Medaini, CEO of the National Debt Management Center, and by Denis Le Veyr, CEO of Bpifrance Assurance Export, for the French side.

The credit line will be used to finance and refinance existing and future contracts carried out by French companies in the Kingdom, supporting the goals of Vision 2030 with a focus on infrastructure, urban development, transport, and healthcare sectors.

Boosting economic and investment cooperation

According to the statement, the agreement aims to strengthen economic, trade, and investment cooperation between Saudi Arabia and France by working together to finalize the operational arrangements for the credit line and ensure its timely and consistent implementation for relevant projects.

Both sides also highlighted the importance of maintaining regular and organized dialogue to ensure the credit line is implemented smoothly and efficiently, with coordinated efforts between the two parties.

Part of the roadmap for the next decade

This statement is part of the "Roadmap for the Next Decade" signed by Saudi Arabia and France in December 2024, reflecting the expansion of cooperation between the two countries and the alignment of ambitions between Saudi Vision 2030 and France 2030.