Nupco signs SAR 2.5 bn financing agreements: The National Unified Procurement Company (Nupco), PIF’s procurement arm, signed four MoUs worth SAR 2.5 bn to strengthen healthcare supply chains and improve medicine availability across the Kingdom, according to its post on Linkedin. The agreements — signed on the sidelines of the PIF’s Private Sector Forum — aim to expand financing options and improve cashflow for suppliers.

FINANCING SUPPLIERS-

The breakdown: The company signed a SAR 1 bn agreement with crowd lending platform Tameed to offer advanced financing options for SME suppliers, as well as a SAR 1 bn agreement with First Abu Dhabi Bank’s Saudi branch to provide suppliers with immediate financing at “competitive rates”. A SAR 500 mn agreement was also signed with Banque Saudi Fransi to provide financing for Nupco’s suppliers. No further details were disclosed.

Nupco also signed a partnership agreement with Saudi Cities Investment Gate (Furas) to facilitate suppliers' access to potential investments. No details were provided on the value of the agreement.

STREAMLINING SUPPLY CHAINS-

Nupco also inked six MoUs with Aramex, Smsa, DHL and UPS, among others, to streamline supply chain operations.

#1- Boosting last-mile services: Nupco inked an MoU with UAE-based freight forwarding and logistics outfit Aramex and another MoU with Smsa to collaborate on last-mile delivery by facilitating direct delivery of meds and specialized devices to patients, according to statements here and here. The firm also inked MoUs with international freight forwarding giants DHL and UPS to expand last-mile delivery and streamline supply chains of pharma products, according to a statement.

#2- Enhancing SME access to med supplies: The company also inked a cooperation agreement with the Kingdom’s Small and Medium Enterprises (SME) General Authority (Monsha’at) to boost the movement and delivery of medical supplies, according to a statement.

#3- Boosting medical logistics across zones with Modon: It also signed an MoU with Saudi Arabia’s Authority for Industrial Cities and Technology Zones (Modon) to establish logistics and industrial projects in the Kingdom. The pair is also looking to expand local participation in healthcare supply chains, according to a statement.

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