The Public Investment Fund and the U.S. Export-Import Bank (EXIM), the U.S. government agency specializing in export credit, today announced the signing of a memorandum of understanding aimed at enhancing financial cooperation and investment and trade opportunities.

The MoU provides a framework to support financing of up to $15 billion (over SAR 56.2 billion) for the purchase of U.S. goods and services by eligible portfolio companies of the Fund.

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The MoU aligns with the Fund's other partnerships with leading export credit institutions in priority markets. The Public Investment Fund's financing strategy leverages multiple sources and financial instruments. The United States is the PIF's largest international market, with purchases by the Fund and its portfolio companies from the U.S. market since 2017 reaching $65 billion, contributing $35 billion to U.S. GDP.

Advanced Cooperation

Under the MoU, the Public Investment Fund and the U.S. Export-Import Bank will explore cooperation opportunities in a number of sectors, including advanced technologies, aerospace and aviation, infrastructure, future mobility, water security, and minerals for advanced manufacturing. The two parties intend to strengthen supply chains and drive digital and industrial innovation, while continuing to enable long-term economic development in the Kingdom and the United States. Rasees Al Saud, Director of Investor and Financial Institution Relations at the Public Investment Fund, said: "The partnership with the U.S. Export-Import Bank will enable us to enhance cooperation in strategic sectors, unlock new opportunities for partnerships between U.S. and Saudi companies, and develop the exchange of information and expertise between them, supporting sustainable long-term growth. The MoU also reflects the strength of the partnerships between the Public Investment Fund and leading global financial institutions."

Strengthening Manufacturing Efforts in the Kingdom

For his part, John Yovanovitch, President and Chairman of the U.S. Export-Import Bank (EXIM), said: "The partnership with the Public Investment Fund through this MoU contributes to achieving the goals of the 'Buy American, Build the Future Framework' initiative, and aligns with EXIM's role as a key economic tool that helps drive American innovation globally and strengthen manufacturing efforts in both the Kingdom and the United States." Sarah Whitten, Chief Commercial Officer at EXIM, said: "At EXIM, we are committed to strengthening supply chain resilience and increasing opportunities for U.S. exporters in sectors tied to the future of the global economy. This MoU reflects our shared focus on strategic sectors, from advanced technologies to critical infrastructure, and supports U.S. businesses, workforce, and innovation." The Public Investment Fund is one of the most influential investment entities in the world, and through its long-term strategy, it continues to drive economic transformation in the Kingdom and achieve sustainable returns.