Logo ofPublic Investment Fund (PIF)
The Public Investment Fund (PIF) announced raising $3 billion (equivalent to SAR 11.25 billion) in credit facilities guaranteed by Italy’s export credit agency SACE. 
The transaction will further expand trade and create new cooperation opportunities within PIF’s ecosystem to procure goods and services from Italian suppliers, the Saudi sovereign fund said in a statement today, Nov. 3.
The credit facilities comprise a $1.78 billion tranche and a €1.035 billion green tranche, participating 25 international banks.
Proceeds from the EUR-denominated green tranche will be allocated to eligible green projects, in line with the PIF’s Green Finance Framework, it added.
The facilities follow an MoU signed between PIF and SACE in March 2025, to strengthen the cooperation between Italian suppliers and PIF and its portfolio companies. It also seeks to unlock opportunities for Italian and Saudi companies to cooperate and exchange business knowledge and experience.
PIF also noted that, since 2017, it has deployed €98 billion (about SAR 419 billion) in the European economy.
Logo ofPublic Investment Fund (PIF)
The Public Investment Fund (PIF) announced raising $3 billion (equivalent to SAR 11.25 billion) in credit facilities guaranteed by Italy’s export credit agency SACE.
The transaction will further expand trade and create new cooperation opportunities within PIF’s ecosystem to procure goods and services from Italian suppliers, the Saudi sovereign fund said in a statement today, Nov. 3.
The credit facilities comprise a $1.78 billion tranche and a €1.035 billion green tranche, participating 25 international banks.
Proceeds from the EUR-denominated green tranche will be allocated to eligible green projects, in line with the PIF’s Green Finance Framework, it added.
The facilities follow an MoU signed between PIF and SACE in March 2025, to strengthen the cooperation between Italian suppliers and PIF and its portfolio companies. It also seeks to unlock opportunities for Italian and Saudi companies to cooperate and exchange business knowledge and experience.
PIF also noted that, since 2017, it has deployed €98 billion (about SAR 419 billion) in the European economy.
