PIF Signs $9.5 Billion Investment Deals With World Bank Arms

Saudi Arabia's Public Investment Fund (PIF) has signed two memorandums of understanding (MoUs) worth up to $9.5 billion with the World Bank Group's private-sector institutions, the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA).

The agreements comprise a $6 billion MoU with IFC to explore co-financing opportunities across eligible projects within PIF's portfolio, and a $3.5 billion MoU with MIGA to support investments in Saudi Arabia and other Middle East and North Africa markets through potential credit enhancement guarantees for PIF portfolio companies.

The partnerships will focus on sectors including infrastructure, energy, transportation, tourism and healthcare, while also promoting knowledge exchange and encouraging greater private capital participation.