RIYADH — Saudi Bank of Small and Medium Enterprises and French Public Investment Bank (Bpifrance) have signed a Memorandum of Cooperation that aims at transferring expertise and best practices to the SMEs Bank and designing financing products for the SME sector.

The SMEs Bank CEO Mohammed Al-Maliki said that the memorandum falls within the institution's objectives that seek to increase the financing for small and medium enterprises to enhance their economic developmental contributions in line with the Saudi Vision 2030.

For his part, CEO of Bpifrance Nicolas Dufourcq said that the memorandum marked the beginning of a partnership with the SMEs Bank, to exchange expertise in finance, investment, innovation and support small and medium enterprises. — SPA