Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), has signed five Memorandums of Understanding (MoU) with Japanese financial institutions worth up to an overall $51 billion, it said on Thursday.
PIF inked MoUs with Mizuho Bank, Sumitomo Mitsui Financial Group, MUFG Bank , JBIC, and Nippon Export and Investment Insurance (NEXI) © X
Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), has signed five Memorandums of Understanding (MoU) with Japanese financial institutions worth up to an overall $51 billion, it said on Thursday.
PIF inked MoUs with Mizuho Bank, Sumitomo Mitsui Financial Group, MUFG Bank , JBIC, and Nippon Export and Investment Insurance (NEXI), it said in a statement.
The deals aim to spur "two-way capital flows through both debt and equity", among other things, it added.
The move adds to more MoUs signed by the $925 billion wealth fund during the flagship Future Investment Initiative (FII) event taking place this week in Riyadh and gathering some of the world's financial titans.
The forum, which is headed by PIF's governor Yasir Al Rumayyan, is an opportunity for Saudi Arabia to draw in foreign investment to support the kingdom's massive economic overhaul known as Vision 2030.
Earlier on Thursday, PIF and the Hong Kong Monetary Authority said they were looking to jointly anchor a new fund targeting $1 billion to invest in firms with an "Hong Kong nexus" that are expanding to Saudi Arabia, with a focus on sectors including manufacturing and renewables.
PIF also said on Wednesday that it had entered a non-binding agreement to become an anchor investor in Brookfield Asset Management's new $2 billion Middle East-focused private fund.
The investment platform, known as Brookfield Middle East Partners, intends to focus on buyouts and structured solutions, among other investment opportunities, with at least half of the capital set to be invested in Saudi Arabia and in international companies that are looking to expand in the Gulf country.
Reporting by Federico Maccioni and Yousef Saba
Saudi Arabia's Riyadh region was struck by two ballistic missiles Monday, the Kingdom's Defense Ministry announced, as Iran simultaneously targeted the UAE and triggered emergency alerts in Bahrain on the war's 24th day.
Saudi Arabia ordered an Iranian diplomat and three members of his team to leave the country Saturday, as the Kingdom continues to absorb Iranian missile strikes launched in retaliation for the US-Israeli military campaign against Tehran.
Qatar's Energy Minister Saad Sherida Al-Kaabi announced Friday that Iranian attacks on the country's energy infrastructure would reduce liquefied natural gas (LNG) export capacity by 17%, resulting in estimated annual revenue losses of $20 billion.
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