The Public Investment Fund (PIF) has signed a US$ 15 billion multicurrency revolving credit facility agreement with a group of 17 leading global financial institutions from Asia, Middle East, Europe, the United Kingdom and the United States.
The PIF said in a statement that loans and debt instruments are one of PIF’s four sources of funding as part of its strategy. The statement added that the multicurrency revolving facility reflects PIF prudent asset-liability management and flexibility, and forms part of PIF’s diverse and sustainable funding strategy within PIF’s Vision Realization Programs 2018-2020 and 2021-2025.
The facility provides PIF with access to additional capital that can be deployed at speed when convenient
PIF continues to act as a partner of choice globally, and will continue to drive the economic diversification of Saudi Arabia, investing SAR 150 billion (US$ 40 billion) into the domestic economy per year, the statement concluded.