Bpifrance has signed two Memoranda of Understanding this summer, one with Abu Dhabi Global Market, and the second one with Monsha’at, the Saudi SME bank.

Two new agreements. To tighten economic relations and support SMEs, Bpifrance regularly signs cooperation agreements with foreign institutions. This summer, the French public investment bank has signed two new ones, with Abu Dhabi Global Market in the United Arab Emirates, and with Monsha’at in Saudi Arabia.

Reinforcing collaborations with institutions in Near and Middle East

These agreements show these institutions’ willingness to support economic cooperation between France and these two countries’ (UAE and Saudi Arabia). To recap:

• On July 1st, Bpifrance signed an MoU with Abu Dhabi Global Market, the international financial sector located in the capital of UAE. Pascal Lagarde, Executive Director in charge of International, Strategy, Development and Research at Bpifrance, and Philippe Richard, Executive Director of International Affairs at ADGM, took part in this signature. This collaboration will encourage companies to develop their international activities in France or in UAE, with a focus on many sectors: education, healthcare industry, sustainable energies & energy efficiency, innovation, transportation, among others.
• On July 12th, Bpifrance signed a cooperation agreement with Monsha’at. This MoU will allow the French public investment bank to transfer its expertise and best practices on different themes (strategy, study & credit decision process, SME risk analysis, SME production offering and innovation financing) to the Saudi SME bank. This aims at supporting the SMEs’ ecosystem in Saudi Arabia, in line with the Kingdom’s “Vision 2030”.

Stakeholders will also have access to EuroQuity, Bpifrance’s online platform that facilitates networking and business partnerships between actors from all over the world.

Those two collaborations add up to many partnerships established with Middle Eastern institutions such as Mubadala, the Emirati sovereign wealth fund, or Hub71, Abu Dhabi’s global tech ecosystem.