Memorandum Signed in Riyadh Mandates BPF for New Partnerships Between Portugal and Saudi Arabia

Banco Português de Fomento, represented by Luís Guimarães, Chief Commercial Officer, and Manuel Queiroz Ribeiro, Director for International Investment, accompanied the Minister of Economy and Territorial Cohesion, Manuel Castro Almeida, on the official mission to Riyadh.

The mission included a delegation of 50 Portuguese companies and marked a decisive step in strengthening economic relations between Portugal and Saudi Arabia, with the signing of a Memorandum of Economic Cooperation between the two countries.

This memorandum mandates BPF to work with the Public Investment Fund (PIF) and the Saudi EXIM Bank to identify and develop new financing opportunities, focusing on investment by Saudi companies in Portugal and investment by Portuguese companies in Saudi Arabia, particularly in sectors such as Infrastructure and Energy.