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NEXI signs MOU with the Public Investment Fund (PIF)


March 14, 2022

Nippon Export and Investment Insurance

Nippon Export and Investment Insurance (NEXI; Chairman and CEO: Atsuo Kuroda) has executed a memorandum of understanding (MOU) with the Public Investment Fund (PIF; Governor; Yasir O. Al-Rumayyan) of the Kingdom of Saudi Arabia (Saudi Arabia).

The governments of both countries have launched the Saudi-Japan Vision 2030 as a “compass of new strategic partnership” and are cooperating accordingly to the agreement. Under the framework of this MOU, NEXI wishes to contribute to the further advancement of Saudi-Japan Vision 2030, the acceleration of energy transition and decarbonization in Saudi Arabia, economic diversification and development, and expansion of Japanese companies’ business opportunities in Saudi Arabia.

The MOU between NEXI and PIF is an accomplishment in line with NEXI’s LEAD Initiative.

Through advancing NEXI’s LEAD initiative and by establishing partnerships with multilateral and government financial institutions, NEXI will continue to actively support the effort of the Japanese government to address its diplomatic/trade issues, to promote infrastructure exports, and to provide financial support for cooperation projects that will contribute to strengthen bilateral economic ties for Japan to secure resources in the future.


<Key points of the MOU>

  1. 1. Cooperation in promoting export of Japanese goods and services to PIF’s projects and subsidiaries that are associated with Saudi Vision 2030.
  2. 2. Consideration on utilizing NEXI’s insurance covered loan for the advancement of Saudi Vision 2030, Saudi-Japan Vision 2030 and decarbonization in Saudi Arabia.
  3. 3. Discussions on other areas of cooperation between PIF and NEXI.

<Overview of PIF>
For more information on PIF, please visit: https://www.pif.gov.sa/en/pages/homepage.aspx


Contact:
Natural Resources Group I, Structure and Trade Finance Insurance Department
Telephone: +81-3-3512-7672

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