{"id":88387,"date":"2024-08-04T00:00:00","date_gmt":"2024-08-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/08\/04\/pif-inks-mous-worth-up-to-usd-50-bn-with-chinese-banks-to-ramp-up-capital-flows-between-riyadh-beijing\/"},"modified":"2024-08-04T00:00:00","modified_gmt":"2024-08-04T00:00:00","slug":"pif-inks-mous-worth-up-to-usd-50-bn-with-chinese-banks-to-ramp-up-capital-flows-between-riyadh-beijing","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/08\/04\/pif-inks-mous-worth-up-to-usd-50-bn-with-chinese-banks-to-ramp-up-capital-flows-between-riyadh-beijing\/","title":{"rendered":"PIF inks MoUs worth up to USD 50 bn with Chinese banks to ramp up capital flows between Riyadh, Beijing"},"content":{"rendered":"

The Public Investment Fund (PIF) inked six MoUs valued at up to USD 50 bn with major <\/strong>Chinese banks,<\/strong> it said in a statement<\/a> last week. The move comes in a bid to spur \u201ctwo-way capital flows through both debt and equity, and come as part of PIF\u2019s strategy to foster institutional partnerships globally,\u201d the press release reads. PIF governor Yasir Al Rumayyan was in China last month<\/a> where Beijing singled-out priority areas including infrastructure and energy as well as the digital and green economies for investments by the wealth fund. <\/p>\n

The statement doesn\u2019t make clear who\u2019s providing financing to whom \u2014 or for what. <\/strong>Given the profiles of the Chinese lenders, we expect the agreements will largely (but not exclusively) see Chinese lenders providing finance for Chinese companies doing business in Saudi as well as for Saudi companies investing in or sourcing from China. <\/p>\n

(** Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

Which Chinese lenders are involved?<\/strong><\/p>\n