MUMBAI :Kotak Mahindra Bank Ltd on Thursday said it has entered into a memorandum of understanding (MoU) with Business France, the French national agency in charge of the development of exports and international investments in France, to support companies in the Indo-French corridor.

“Business France fosters export growth by French businesses, facilitating international investment in France. It also promotes French companies (mainly mid-sized), business image and nationwide attractiveness as an investment location,” it said.

Manish Kothari, president and business head, corporate banking (large corporates, MNC, SME, New Age Cos & CBS), Kotak Mahindra Bank said that the lender will be the first Indian bank to have signed a MoU with Business France.

This tie-up, Kothari said, will bolster relationships between India and France by interconnecting the ecosystems of both countries to create most favourable conditions, for increased reciprocal business opportunities.

“Business France has a good network with midcorp companies from France and we see good opportunity to on-board subsidiaries via this tie-up,” he said.

The MoU will try to promote business and start-up ecosystem cooperation and identify business and investment opportunities in India and France. Through this, Kotak Mahindra Bank will be amongst Business France’s privileged Indian banking partner for French companies and business France will accompany Kotak Mahindra Bank’s Indian clients in their entry in France. That apart, they would collaborate for knowledge roundtables organized by Business France India and be exclusive knowledge or banking partner for select events.