The Ministry of Finance’s Projects Support Fund inked 4 memorandums of understanding (MoUs) on the sidelines of the Municipal Investment Forum (Furas), organized by the Ministry of Municipal and Rural Affairs (MOMRA).
Three of these MoUs, which support the Fund’s initiative, were inked with Banque Saudi Fransi (BSF), SAMBA Financial Group, and Riyad Bank, according to a ministry statement.
These MoUs seek to boost partnerships with the private sector, in addition to developing the partnership model between the Projects Support Fund and other financial institutions in financing and providing consultancy services to the target projects.
The Projects Support Fund aims to enhance the contribution of the private sector, encourage financial institutions to arrange loans, boost local content, narrow supply-demand gap and bolster economic diversification.
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