Collaboration on electricity and Airbus aircraft
The Kingdom of Saudi Arabia has witnessed the signing of cooperation agreements in the fields of electricity and aviation. The Saudi Energy Company signed a funding agreement with the French bank Bpifrance, valued at up to $3 billion, to support the modernization of the electricity grid and infrastructure projects. Additionally, the Saudi Export and Import Bank inked a memorandum of understanding with Al Saudia Group and Crédit Agricole CIB to arrange financing solutions for the purchase of new Airbus aircrafts, along with providing credit risk insurance coverage for the deal. These agreements aim to strengthen the energy and aviation sectors in the Kingdom by supporting the financing of vital projects.
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