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Saudi Arabia for Energy secures $3B funding from French bank
The Saudi Energy Company has signed a cooperation agreement with the French investment bank valued at up to $3 billion to finance its projects in developing and expanding the electrical network. This was announced on the sidelines of the Saudi-French roundtable meeting and accompanied the visit of Crown Prince Prince Mohammed bin Salman to France. The agreement aims to provide competitive financing solutions for current and future projects, strengthening the company's ability to diversify funding sources and improve the sustainability of the electrical network. There is also potential to expand cooperation to include other French companies. Additionally, the agreement involves relationships with global banks such as BNP Paribas and HSBC to enhance liquidity and enable sustainable growth for the projects.
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