Since 2017, Saudi Arabia’s Public Investment Fund (PIF) has established 95 companies and invested at least $40 billion annually into the local economy. Recently, PIF secured a $15 billion revolving credit facility from a global syndicate of 23 banks across Europe, the US, the Middle East, and Asia.

With an initial three-year term and an extension option for an additional two years, this facility enhances PIF’s financial flexibility by allowing it to draw, repay, and re-access funds as needed.

The new $15 billion revolving credit facility highlights PIF’s credit rating and high interest from banking partners. This facility replaces the $15 billion multi-currency revolving credit line from 2021, which involved 17 banks, ensuring continued quick access to capital.

As a leading sovereign wealth fund, PIF reported a net profit increase of over 100% in 2023, reaching $88.2 billion, up from $43.9 billion in 2022. The fund also received an A1 rating with a positive outlook from Moody’s and an A+ rating with a stable outlook from Fitch, reflecting its strong financial position.

“Through strategic investments and partnerships across the Saudi public and private sector, PIF is driving the transition to a more sustainable economy and laying the foundations for local and international partners to invest in the economic and societal transformation of Saudi Arabia,” the statement said. 

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