RIYADH: PIF today announced the signing of five memorandums of understanding (MoUs) worth up to $51 billion with leading Japanese financial institutions.

These MoUs were signed with Mizuho Bank, Sumitomo Mitsui Financial Group, MUFG Bank, Japan Bank for International Cooperation (JBIC), and Nippon Export and Investment Insurance (NEXI).

The MoUs are a key part of PIF’s strategy to boost financial collaboration globally, enhancing cooperation in finance, investment and sustainable development. They cover a variety of areas, including encouraging two-way capital flows through both debt and equity.

Rasees AlSaud, Head of Financial Institutions and Investor Relations, said: “The MoUs demonstrate PIF’s robust and ever deepening relationships with leading international financial institutions. This collaboration underscores PIF's commitment to foster partnerships.”

The MoUs cover both PIF and portfolio companies, as well as Japanese companies and financial institutions.

About PIF

PIF is the investment engine driving economic transformation for Saudi Arabia and the world. With an ambitious program to deliver Vision 2030, PIF invests in projects, companies and partners to diversify the Saudi economy, stimulate growth in every major sector, and create new opportunities for investment and employment.

And as a global investor and catalyst of change, PIF actively partners with the most pioneering organizations across the world to accelerate their growth, and transfer the technology and knowledge needed to build industry ecosystems of the future.

Since 2017, PIF has established 95 companies and injects at least SAR 150 billion into the local economy each year. 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.

For more information, visit the website at www.pif.gov.sa

Rupert Trefgarne: rtrefgarne@pif.gov.sa/ +966 546 0057 33