PIF has announced the signing of five memorandums of understanding (MoUs) worth up to $51 billion with leading Japanese financial institutions.

These MoUs were signed with Mizuho Bank, Sumitomo Mitsui Financial Group, MUFG Bank, Japan Bank for International Cooperation (JBIC), and Nippon Export and Investment Insurance (NEXI).

The MoUs are a key part of PIF’s strategy to boost financial collaboration globally, enhancing cooperation in finance, investment and sustainable development. They cover a variety of areas, including encouraging two-way capital flows through both debt and equity.

Rasees AlSaud, Head of Financial Institutions and Investor Relations, said: “The MoUs demonstrate PIF’s robust and ever deepening relationships with leading international financial institutions. This collaboration underscores PIF's commitment to foster partnerships.”

The MoUs cover both PIF and portfolio companies, as well as Japanese companies and financial institutions.