Saudi Arabia’s Public Investment Fund (PIF) has secured $3bn in credit facilities guaranteed by Italian export credit agency SACE, as the sovereign wealth fund diversifies its funding sources to support its expanding investment programme, according to a report by Reuters.
The financing reportedly comprises two tranches, including a $1.78bn conventional facility and a €1.04bn green facility. The agreement builds on a memorandum of understanding signed between PIF and SACE in 2025 and is intended to support greater commercial cooperation and procurement opportunities involving Italian suppliers.
With assets exceeding $900bn, PIF is a central investor in Saudi Arabia’s economic diversification programme, deploying capital across sectors including tourism, technology, infrastructure and industrial development as the kingdom seeks to reduce its dependence on oil revenues.
The financing reflects PIF’s growing use of international debt markets and export credit arrangements to fund its investment commitments while strengthening commercial partnerships with overseas suppliers and financial institutions.
