PIF and UK Export Finance Sign MoU to Strengthen Financial Cooperation and Investment Opportunities

📷SPA

Riyadh, October 28 (Saudi Arabia Breaking News) – The Public Investment Fund (PIF) and the UK Export Finance (UKEF), the United Kingdom’s export credit agency, have signed a memorandum of understanding (MoU) to enhance financial collaboration and expand trade and investment opportunities between Saudi Arabia and the United Kingdom.

Under the agreement, both sides will work to identify joint financing opportunities and explore new avenues for cooperation between PIF, its portfolio companies, and UK-based exporters. The MoU aims to support PIF’s strategy of diversifying its funding sources and building partnerships with major international institutions.

According to UKEF, the agency currently has a total market cover of up to $6.8 billion in Saudi Arabia. Through this MoU, UKEF will engage with PIF and its subsidiaries to explore a pipeline of projects that could be supported by export credit guarantees, opening opportunities for UK suppliers and contractors to contribute to the Kingdom’s development projects.

The partnership also establishes a framework for exchanging expertise and business experience, enabling both parties to identify areas of mutual benefit and strengthen long-term economic collaboration.

Fahad AlSaif, PIF’s Head of Global Capital Finance and Investment Strategy and Economic Insights, said the agreement underscores PIF’s strong relationships with leading global financial institutions and will help portfolio companies access international capital and expertise. “This collaboration will deliver transformative projects that contribute to sustainable economic growth in line with Vision 2030,” he stated.

UKEF CEO Tim Reid described the MoU as a “gateway for British businesses” to participate in Saudi Arabia’s major infrastructure and innovation projects under Vision 2030, highlighting the UK’s commitment to supporting exporters as they expand into one of the world’s fastest-growing markets.

The agreement builds on previous cooperation between the two sides, including the $700 million Islamic Murabaha facility guaranteed by UKEF for Six Flags Qiddiya City.

PIF, one of the world’s most influential sovereign wealth funds, continues to play a leading role in shaping global investment trends while driving Saudi Arabia’s economic transformation. The fund holds Aa3 (Moody’s) and A+ (Fitch) credit ratings, both with a stable outlook.