Riyadh, August 2023: The National Center for Privatization & PPP (NCP) signed a cooperation agreement with Al Rajhi Bank to establish a cooperation framework between the two parties. This stems from the local and international banking sector being one of the most important strategic partners in the success of privatization and PPP (P&PPP).
The agreement was signed by both NCP Vice President of Strategic Marketing & Knowledge Management, Mr. Hani AlSaigh, and Al Rajhi Bank General Manager-Corporate Banking Group, Mr. Hassam Al-Basrawi, Hani AlSaigh stated NCP's pride in signing the agreement with Al Rajhi Bank, one of the leading banks operating in the region. This comes among NCP's efforts to sign cooperation agreements with local and international banks and finance companies, which will contribute to motivating the bank's corporate clients to invest in Privatization and Public-Private Partnership (P&PPP) projects.
Hani AlSaigh pointed this agreement revolves around enhancing opportunities in P&PPP projects for local and international investors by participating in market soundings and financial advisory, in addition to local and international marketing, organizing investor events, training, and capability building. This agreement complements NCPs role in the success of offering P&PPP opportunities to the private sector in the sectors targeted for privatization.
Furthermore, VP of Strategic Marketing & Knowledge Management commented that this is among NCP's efforts to enable banks and financial institutions to support P&PPP in providing financing and advisory services to the private sector which will also have a positive impact on attracting local and international investments in line with Vision 2030 regarding increasing the private sector's contribution to the GDP.
