PIF signs up to $24.5 billion in financing agreements with EXIM, World Bank institutions

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.

The agreements include a memorandum of understanding (MoU) with EXIM that establishes a framework for up to $15 billion in long-term financing, enabling 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), covering up to $6 billion and $3.5 billion, respectively. The agreements are designed to expand investment opportunities and support economic development in Saudi Arabia and other emerging markets.

According to PIF, the agreements are part of its broader strategy to diversify funding sources and strengthen partnerships with international financial institutions.

Under the EXIM agreement, the parties will explore opportunities across advanced technology, aerospace, infrastructure, future mobility, water security, and critical minerals. The partnership is also expected to strengthen supply chains and support industrial and digital innovation.

The US is PIF’s largest international market, with the fund and its portfolio companies procuring $65 billion in US goods and services since 2017, according to PIF. The fund estimates that this activity has contributed $35 billion to the US gross domestic product.

Rasees AlSaud, Head of Financial Institutions and Investor Relations, Global Capital Finance at PIF, said the partnership with EXIM would deepen cooperation across strategic sectors while creating new opportunities for Saudi and US companies to collaborate and exchange expertise.

EXIM President and Chairman John Jovanovic said the agreement supports the bank’s “Buy American, Build the Future” framework by promoting US innovation in strategic industries and strengthening domestic manufacturing.

The MoU with IFC will focus on potential co-financing opportunities across infrastructure, energy, transportation, tourism, and healthcare. It will also support knowledge sharing and encourage greater private-sector participation in projects developed by PIF portfolio companies.

Meanwhile, the agreement with MIGA will explore 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 high-value job creation.

AlSaud said the agreements with IFC and MIGA build on PIF’s existing partnerships with international financial institutions and are expected to expand financing opportunities for its portfolio companies while supporting Saudi Arabia’s Vision 2030 economic transformation.