RIYADH — The Public Investment Fund (PIF) announced Thursday the signing of five memorandums of understanding (MoUs) valued at up to $51 billion with prominent Japanese financial institutions.

The MoUs were signed with Mizuho Bank, Sumitomo Mitsui Financial Group, MUFG Bank, Japan Bank for International Cooperation (JBIC), and Nippon Export and Investment Insurance (NEXI).

These agreements are integral to PIF’s strategy to enhance global financial collaboration, supporting cooperation across finance, investment, and sustainable development. They aim to facilitate two-way capital flows through both debt and equity channels.

Rasees AlSaud, Head of Financial Institutions and Investor Relations, commented on the agreements, stating, “The MoUs demonstrate PIF’s robust and ever-deepening relationships with leading international financial institutions. This collaboration underscores PIF's commitment to foster partnerships.”

The MoUs encompass both PIF and its portfolio companies, alongside Japanese corporations and financial entities, further strengthening economic ties between Saudi Arabia and Japan. — SG