Saudi Arabia and France have signed a memorandum of cooperation to fund development projects in Africa, state-run Saudi Press Agency reported.

 

The projects, which cost 200 million euros (SAR 927 million), will be financed jointly by the Saudi Fund for Development and the French Development Agency.

 

The memorandum was signed by Chairman of Saudi Fund for Development Ahmed Al-Khatib, French Minister of Foreign Affairs Jean-Yves Le Drian, and executive director of the French Development Agency Remy Rio.

 

The agreement comes as part of Saudi Crown Prince Mohammed bin Salman’s three-day visit to France.

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