Saudi Public Investment Fund Signs Three Financing Framework Agreements Worth Up to 24.5 Billion Dollars With the World Bank Group and the US Export Import Bank
Saudi Arabia’s Public Investment Fund said on 24 July 2026 that it had signed three memoranda of understanding worth a combined up to 24.5 billion dollars with the private sector arms of the World Bank Group and with the Export Import Bank of the United States, framework agreements intended to widen its funding partnerships and support strategic projects in the kingdom and the wider region. The fund announced the agreements in two separate statements.
Two of the memoranda, with the International Finance Corporation and the Multilateral Investment Guarantee Agency, both part of the World Bank Group, carry a combined value of 9.5 billion dollars. The agreement with the International Finance Corporation, worth 6 billion dollars, is intended to explore co financing opportunities for eligible projects across the fund’s portfolio in sectors including infrastructure, energy, transport, tourism and healthcare, and to encourage private capital to take part in projects run by the fund’s portfolio companies. The agreement with the Multilateral Investment Guarantee Agency, worth 3.5 billion dollars, focuses on guarantees and financing tools for the fund’s investments across the Middle East and North Africa, with an emphasis on lowering carbon emissions, developing innovative industries and creating jobs.
The third memorandum, with the Export Import Bank of the United States, is worth up to 15 billion dollars and is aimed at supporting the financing of strategic projects through the procurement of United States goods and services by eligible portfolio companies of the fund. Taken together, the three agreements form part of the fund’s strategy to diversify its sources of funding and deepen its partnerships with global financial institutions, in support of its role in delivering the large projects and private sector participation at the centre of Saudi Vision 2030. The fund said the two agreements with the World Bank Group institutions reflected its strategic partnerships with leading global financial institutions.
Why it matters: The Public Investment Fund is the main engine of Saudi Arabia’s economic diversification, and framework agreements of this size with the World Bank Group’s private sector arms and a major export credit agency point to a broadening of how the fund finances its programme, drawing in multilateral guarantees and co investment alongside its own capital. For Saudi Arabia and the wider Gulf, arrangements that bring in institutions such as the International Finance Corporation and the Multilateral Investment Guarantee Agency can help attract private capital and share risk on large infrastructure, energy and industrial projects, reinforcing the region’s push to mobilise external financing for its development plans.
Outlook: The agreements are memoranda of understanding that establish frameworks rather than binding commitments, so their effect will depend on the specific projects and financing that follow. If converted into transactions, they would give the fund additional channels for co financing and guarantees at a time when it is funding an ambitious pipeline, and could serve as a template for similar tie ups between Gulf sovereign investors and multilateral or export finance institutions.
Sources: Saudi Public Investment Fund (two statements, 24 July 2026); Bloomberg.
