Saudi PIF Raises $3 Billion via Italian SACE Guarantees

The Public Investment Fund of Saudi Arabia raised approximately $3 billion in credit facilities guaranteed by SACE, the export credit agency of Italy. The financing includes a $1.78 billion tranche and a €1.035 billion green tranche provided by a syndicate of 25 international banks. The green tranche is designated for projects under the fund's Green Finance Framework.

These funds will support procurement from Italian suppliers and expand cooperation in technology, manufacturing, and construction. The deal follows a March 2025 memorandum of understanding and the FII PRIORITY Summit in Rome. Current collaborations between the two nations include the Diriyah development and a joint-venture tire factory with Pirelli.

The initiative aligns with the Push strategy of SACE, which seeks to increase the export of Italian goods and services to the Saudi market. The financing supports the broader 2026-2030 strategy of the Public Investment Fund to provide its portfolio companies with increased access to global markets and international capital.