Saudi: PIF signs MoUs worth $50bln with leading Chinese financial institutions

Getty Images

The MoUs cover areas of cooperation such as encouraging two-way capital flows through both debt and equity, aligning with PIF’s strategy to foster institutional partnerships globally

Staff Writer, Saudi Gazette

August 1, 2024

PHOTO

These MoUs were signed with the Agricultural Bank of China (ABC), Bank of China (BoC), China Construction Bank (CCB), China Export & Credit Insurance Corporation (SINOSURE), Export-Import Bank of China (CEXIM), and the Industrial and Commercial Bank of China (ICBC).

The MoUs cover areas of cooperation such as encouraging two-way capital flows through both debt and equity, aligning with PIF’s strategy to foster institutional partnerships globally.

Fahad AlSaif, PIF’s Head of the Global Capital Finance Division and Head of the Investment Strategy and Economic Insights Division, said: “The MoUs demonstrate PIF’s strong and deepening relationships with leading financial institutions and accentuate PIF’s commitment to enhancing partnerships globally.” — SG

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

ZAWYA NEWSLETTERS

RELATED ARTICLES

ZAWYA NEWSLETTERS

LATEST VIDEO