‎PIF launches Saudi Egyptian Funding Firm to foster funding in Egypt


Impress of Public Funding Fund (PIF)

The Public Funding Fund (PIF) these days launched the Saudi Egyptian Funding Firm (SEIC) to speculate in promising sectors all the contrivance in which via Egypt, one of many area’s emerging markets.

SEIC will invest in precedence sectors in conjunction with but no longer minute to, infrastructure, true estate improvement, properly being care, financial services and products, meals and agriculture, manufacturing, pharmaceutical and numerous opportunistic investments. The company will also contribute to enhancing access for PIF and its portfolio corporations, alongside side the Saudi non-public sector, to number of funding alternatives in Egypt. This may per chance occasionally per chance also reduction drive dazzling lengthy-duration of time commercial returns and enhance cooperation across many strategic sectors.

Yazeed Alhumied Deputy Governor and Head of MENA Investments at PIF, said, “We are cosy to disclose the starting up of the Saudi Egyptian Funding Firm, in step with PIF’s ongoing expansion domestically and globally, and in alignment with our 2021-2025 method.

“In gentle of the economic grunt in the discover web page, SEIC will capitalize on lucrative funding alternatives inner a need of promising Egyptian economic sectors, that will also toughen the expansion efforts of Saudi corporations and numerous PIF portfolio corporations. The strategic economic partnerships that PIF has established with many investors and main corporations are amongst basically the most primary parts of its success.”

The delivery of SEIC comes in step with PIF’s strategy to explore new funding alternatives in the MENA web web page that toughen the introduction of lengthy-duration of time strategic economic partnerships to achieve sustainable returns to maximise the Fund’s sources and diversify Saudi Arabia’s economy in step with Imaginative and prescient 2030.