UAE - Mubasher: Mubadala Investment Company has signed two agreements to facilitate investments in sectors of mutual priority and interest in France, as part of more than EUR 15 billion economic agreements between Emirati and French companies.

The agreements were reached during the official state visit by French President Emmanuel Macron to the UAE, according to a recent press release.

Mubadala has reached its first agreement with Bpifrance, a French public investment bank, to extend co-investment partnerships by an additional EUR 4 billion over the next ten years.

Both entities have committed EUR 2 billion to the French Emirati Fund Partnership (FEF Partnership) and the Innovation Partnership.

Meanwhile, the Emirati company inked its second agreement with the French Ministry of the Economy, Finance, and Recovery to enable the Abu Dhabi government's funds to potentially invest EUR 1.4 billion in France-based funds.

The agreement will also cover funds with exposure to all French economic sectors, including energy, semiconductors, and space.

Mubadala’s Managing Director and Group CEO, Khaldoon Khalifa Al Mubarak, said: "Following today’s announcement, we will be able to accelerate our investments in the sectors rapidly emerging as the drivers of this growth. In doing so, we will strengthen the commercial ties between the UAE and France and help support the long-term economic growth of both nations."

Meanwhile, the Minister of Economy, Finance, and the Recovery of France, Bruno Le Maire, commented: "This extension comes at a time when the funds from the first agreement are now deployed. This extension comes at a time when the funds from the first agreement are now deployed. This agreement marks the excellence and quality of our relationship."