Saudi Investments Signs MoUs Worth $24.5 Billion

The Saudi Public Investment Fund (PIF) announced the signing of three memoranda of understanding (MoUs) with the U.S. Export-Import Bank (EXIM), the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA), both affiliated with the World Bank Group, to enhance financial and investment cooperation and expand partnership opportunities with companies in the fund’s portfolio, through cooperation and financing frameworks totaling $24.5 billion.

These agreements align with the fund’s strategy to diversify its funding sources and strengthen its partnerships with international financial institutions, thereby supporting the Kingdom’s economic transformation and promoting sustainable development.

The fund signed an MoU with the U.S. Export-Import Bank (EXIM), the U.S. government agency specialized in export credit, to establish a framework supporting financing of up to $15 billion (more than SAR 56.2 billion) for the purchase of U.S. goods and services by eligible companies in the fund’s portfolio.

The fund also signed two MoUs with the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA) to boost economic growth, contribute to the creation of high-quality jobs, and support investment opportunities with companies in the fund’s portfolio in the Kingdom and the wider region.