| Entity | Public Investment Fund (PIF); Export-Import Bank of the United States (EXIM) |
|---|---|
| Date | 24 Jul 2026 |
| Region | U.S. & Allies |
Saudi Arabia’s Public Investment Fund secures a $15 billion long-term financing framework from the U.S. Export-Import Bank to fund procurement of American goods and services by its portfolio companies in advanced technology and strategic sectors.
On 24 July 2026 the Public Investment Fund and the Export-Import Bank of the United States signed a Memorandum of Understanding creating a framework for up to $15 billion in long-term export credit financing for eligible PIF portfolio companies to acquire U.S.-origin goods and services.
Entity: Public Investment Fund (PIF); Export-Import Bank of the United States (EXIM)
Instrument / cite: Memorandum of Understanding for up to $15 billion export credit
Source type: Official press release
Confidence: Confirmed
Record ID: N/A
The Public Investment Fund and the Export-Import Bank of the United States formalized a Memorandum of Understanding on 24 July 2026 that establishes a framework for long-term financing of up to $15 billion. The facility is available to eligible PIF portfolio companies for the procurement of U.S.-origin goods and services.
The agreement positions the United States as PIF’s largest international market. Procurement by PIF and its portfolio companies from U.S. suppliers has totaled $65 billion since 2017 and has contributed an estimated $35 billion to U.S. GDP. The MoU extends that commercial relationship into a structured export-credit channel rather than pure equity or commercial debt.
Sectors explicitly targeted for exploration include advanced technology, aerospace industries, infrastructure, future mobility, water security, and minerals essential to advanced manufacturing. Both parties state the intent to strengthen supply chains and accelerate digital and industrial innovation that supports economic development in Saudi Arabia and the United States.
Rasees AlSaud, Head of Financial Institutions and Investor Relations, Global Capital Finance at PIF, described the arrangement as enabling deeper cooperation in strategic sectors and new opportunities for Saudi and American companies to expand collaboration. John Jovanovic, President and Chairman of EXIM, framed the partnership as advancing EXIM’s “Buy American, Build the Future” framework by placing American innovation into critical sectors while supporting domestic manufacturing. Sarah Whitten, Chief Commercial Officer at EXIM, emphasized the shared focus on resilient supply chains and expanding opportunities for American exporters in industries that will shape the future global economy.
The MoU builds on PIF’s existing relationships with selected export credit agencies in other priority markets and forms part of the fund’s broader capital-raising strategy that draws on diverse funding sources and instruments. It does not commit specific project disbursements; it creates the institutional framework under which eligible portfolio companies may access EXIM financing for U.S. content.
For technology founders and enterprise suppliers, the facility opens a clear pathway for U.S.-origin equipment, software, and services to enter large-scale PIF-backed projects without requiring the Saudi entity to carry the full financing burden on commercial terms. For investors tracking sovereign capital flows, the $15 billion ceiling and the explicit sector list provide a measurable signal of continued U.S.–Saudi commercial alignment in advanced manufacturing and critical minerals.
The MoU converts an already substantial bilateral procurement relationship into a formalized export-credit facility sized for multi-year strategic projects. Founders and suppliers in advanced technology, aerospace, and critical minerals now have a defined institutional channel through which PIF portfolio companies can finance U.S. content at scale, raising the competitive importance of American origin in those supply chains.