Saudi Arabia's PIF signs $9.5bn of agreements with two World Bank Group institutions

Saudi Arabia's Public Investment Fund (PIF) said on Friday, 24 July 2026 (2 Mordad 1405) that it has signed agreements worth up to $9.5 billion with two World Bank Group institutions, aimed at unlocking investment, supporting economic development and creating jobs in the Kingdom and across emerging markets.

The first, a $6 billion agreement with the International Finance Corporation (IFC), explores co-financing opportunities in sectors including infrastructure, energy, transport, tourism and healthcare. The second, a $3.5 billion deal with the Multilateral Investment Guarantee Agency (MIGA), will explore providing credit guarantees to facilitate financing for PIF portfolio companies operating in Saudi Arabia and other regional markets.

PIF said the partnerships were aimed at supporting economic diversification and attracting private investment into strategic sectors. John Gandolfo, IFC vice president and chief financial officer, said the partnership would help mobilise private capital and strengthen cross-border investment, while Junaid Kamal Ahmad, MIGA vice president of operations, described it as supporting Saudi Arabia's Vision 2030 strategy.