"Al-Eqtisadiah" from Riyadh

Friday 24 July 2026 21:57 | 1 minute read

Saudi Arabia's Public Investment Fund (PIF) and the US Export-Import Bank (EXIM) signed a memorandum of understanding worth up to $15 billion (more than SR 56.2 billion), according to a statement on Friday.

The cooperation memorandum aims to enhance financial cooperation and investment and trade opportunities, and provides a framework to support financing, targeting the purchase of US goods and services for the benefit of eligible portfolio companies of the fund.

The US Export-Import Bank is the US government agency specializing in export credit.

The memorandum is in line with the fund's other partnerships with a number of leading export credit agencies in priority markets. The Public Investment Fund's financing strategy benefits from several financing sources and instruments.

The United States is the largest international market for the Public Investment Fund, as the value of purchases by the fund and its portfolio companies from the US market since 2017 has reached $65 billion, contributing $35 billion to the US GDP.

Under the memorandum, the Public Investment Fund and the US Export-Import Bank will explore cooperation opportunities in several sectors, including advanced technologies, aerospace and aviation industries, infrastructure, future mobility, water security, and minerals for advanced manufacturing.

The two sides intend to enhance supply chains and drive digital and industrial innovation, while continuing to enable long-term economic development in the Kingdom and the United States.

Ressis Al Saud, Director of Investor and Financial Institutions Relations at the Public Investment Fund, said: 'The partnership with the US Export-Import Bank will enable us to enhance cooperation in strategic sectors, launch new opportunities for partnerships between American and Saudi companies, and develop the exchange of information and expertise between them, supporting long-term sustainable growth.'

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24 July 2026

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24 July 2026