PIF and World Bank affiliates discuss $9.5B memos
The Saudi Public Investment Fund has signed two Memoranda of Understanding with a total value of up to $9.5 billion—one with the International Finance Corporation and the other with the Multilateral Investment Guarantee Agency, both subsidiaries of the World Bank Group. The agreements aim to promote economic growth, create high-quality job opportunities, and expand investment prospects within Saudi Arabia and the region. The memorandum with the International Finance Corporation includes a $6 billion investment in strategic sectors such as energy, infrastructure, tourism, and healthcare, along with opportunities for knowledge exchange and enhanced private capital participation. Meanwhile, the memorandum with the Multilateral Investment Guarantee Agency is valued at $3.5 billion and is designed to support investment companies in the Middle East and North Africa, with a focus on reducing carbon emissions and developing innovative industries. The collaboration seeks to accelerate developmental transformation and foster partnership and investment opportunities in the local and regional markets.
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