PIF Signs USD 51 Billion Deals With Japanese Financial Firms

Saudi Arabia's Public Investment Fund (PIF) announced the signing of five memorandums of understanding (MoUs) with leading Japanese financial institutions, totaling up to USD 51 billion. This move aims to strengthen financial collaboration between Saudi Arabia and Japan, enhancing cooperation in finance, investment and sustainable development.

The MoUs cover various areas, including encouraging two-way capital flows through debt and equity. Notable institutions involved in this partnership include Mizuho Bank, Sumitomo Mitsui Financial Group, MUFG Bank, Japan Bank for International Cooperation (JBIC), and Nippon Export and Investment Insurance (NEXI).