PIF and SACE sign MoU for up to $3bln to promote Italian companies' engagement in Saudi Arabia

Business and Finance Business and Finance

Wed, March 5, 2025

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Blue Yonder: 2024 Business Review

PIF and SACE sign MoU for up to $3bln to promote Italian companies' engagement in Saudi Arabia

^{Published on 2025-03-05 05:40:56 - Zawya}

The MoU focuses on providing financing support for cooperation between Italian companies in the private sector and PIF and its portfolio companies

The Public Investment Fund (PIF) of Saudi Arabia and SACE, the Italian Export Credit Agency, have signed a Memorandum of Understanding (MoU) to facilitate up to $3 billion in financing for Italian companies looking to engage in Saudi Arabia. This agreement aims to enhance economic cooperation between Italy and Saudi Arabia by providing financial support for projects in sectors like infrastructure, energy, and technology. The MoU was signed during a visit by Italian Prime Minister Giorgia Meloni to Saudi Arabia, highlighting the strategic partnership between the two nations. This initiative is part of PIF's broader strategy to diversify the Saudi economy and foster international partnerships, while SACE seeks to promote Italian exports and investments abroad.

Read the Full Zawya Article at:
[ https://www.zawya.com/en/press-release/companies-news/pif-and-sace-sign-mou-for-up-to-3bln-to-promote-italian-companies-engagement-in-saudi-arabia-q1pahw6z ]

Contributing Sources

Zawya

N@N

PIF and SACE sign MoU for up to $3bln to promote Italian companies' engagement in Saudi Arabia