Saudi Arabia’s Public Investment Fund (PIF) has signed financing agreements worth up to $24.5 billion with the Export-Import Bank of the United States (EXIM) and two World Bank Group institutions to expand investment opportunities.
The agreements include a memorandum of understanding (MoU) with EXIM that establishes a framework for up to $15 billion in long-term financing for eligible PIF portfolio companies to procure US-origin goods and services.
PIF also signed separate MoUs with the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA), valued at up to $6 billion and $3.5 billion, respectively.
The agreements support investment, facilitating project financing, and promoting economic development in Saudi Arabia and across emerging markets.
According to PIF, the partnerships are aligned with its strategy to diversify funding sources while strengthening relationships with leading international financial institutions.
Under the EXIM agreement, the two sides will explore financing opportunities across sectors, including advanced technology, aerospace, infrastructure, future mobility, water security, and critical minerals. The collaboration strengthens supply chains and supports industrial and digital innovation.
PIF stated that the United States remains its largest international market, with the fund and its portfolio companies procuring $65 billion in US goods and services since 2017. The investments have contributed an estimated $35 billion to US gross domestic product.
Rasees AlSaud, Head of Financial Institutions and Investor Relations, Global Capital Finance at PIF, remarked that the partnership with EXIM would strengthen cooperation in strategic industries while creating new opportunities for Saudi and US companies to collaborate and exchange expertise in support of sustainable economic growth.
Image Credits: PIF | Cropped by GBN
John Jovanovic, President and Chairman of EXIM, noted that the agreement supports the bank’s ‘Buy American, Build the Future’ framework by promoting American innovation in strategic sectors while reinforcing domestic manufacturing.
The agreement with IFC will focus on exploring co-financing opportunities across infrastructure, energy, transportation, tourism, and healthcare projects. It also provides a framework for knowledge sharing and encourages greater private-sector participation in projects undertaken by PIF portfolio companies.
Meanwhile, the MoU with MIGA will explore the use of credit enhancement guarantees to facilitate financing for PIF portfolio companies investing across the Middle East and North Africa. Priority areas include decarbonization, innovative industries, and projects that support high-value job creation.
AlSaud said the agreements with IFC and MIGA build on PIF’s long-standing partnerships with major international financial institutions and will create additional investment opportunities for the fund’s portfolio companies while supporting Saudi Arabia’s Vision 2030 economic diversification agenda.
