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Governor of PIF, Yasir Al-Rumayyan, receives the 2022 ABANA Achievement Award in NY

Governor of PIF, Yasir Al-Rumayyan, receives the 2022 ABANA Achievement Award in NY

The Saudi Public Investment Fund (PIF) announced that its governor, Yasser Al-Rumayyan, has been awarded the ABANA Achievement Award for the year 2022.

 

 

 

According to a tweet from the public investment fund today, the American APANA Organization has awarded Yasser Al-Rumayyan its achievement award for 2022.

 

 

 

This was during a ceremony held in New York City, in honor of his leadership in banking and financing services. He also enhanced cooperation between the US and the Middle East and North Africa region.

 

The Public Investment Fund recently announced the completion of procedures for obtaining a loan of $17 billion for a period of up to 7 years.

 

 

 

This loan is the largest of its kind in terms of size and duration. It is also the first of its kind in the number of international financial institutions participating in it.

 

 

 

Moody’s and Fitch gave the fund a high rating for the first time in February 2022.

 

 

 

To add strategic and operational value, diversify its funding sources, and strengthen its financial position in line with its financing plan, the fund seeks to expand areas of collaboration amongst investment portfolios.

 

 

 

The sources of financing the Fund’s business and investments include increasing state capital, government-owned assets, loans, and retained returns from investments.

 

 

On a recent basis, HRH, Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, and Prime Minister announced that the Saudi Public Investment Fund (PIF) would establish 5 regional investment companies in Jordan, Bahrain, Sudan, Iraq, and the Sultanate of Oman.

 

This came after the launch of the Saudi Egyptian Investment Company, where the value of the targeted investments will reach $ 24 billion.

 

The company will focus on investing in several key sectors, including, but not limited to, infrastructure, real estate development, health care, mining, financial services, communications, and technology.in addition to investing in food, agricultural, and industrial projects such as pharmaceutical industries, strategic sectors, and other attractive investment opportunities.

 

 

According to the Saudi Press Agency (SPA), the company will contribute to developing and strengthening the investment partnership of the Public Investment Fund, its portfolio companies, and the Saudi private sector for many investment opportunities in the Arab countries.

 

Such opportunities will contribute to achieving attractive returns in the long term and developing aspects of cooperation in many strategic sectors.

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