09:18 AM EST, 11/03/2026 (MT Newswires) -- Saudi Arabia's Public Investment Fund, or PIF, raised the equivalent of $3 billion in dual-tranche credit facilities backed by Italy's export credit agency SACE. The sovereign wealth fund said Tuesday that the financing includes a $1.78 billion tranche and a 1.04 billion-euro green tranche, arranged with 25 international banks. PIF will use the funds to support purchases from Italian suppliers, while the euro-denominated tranche will finance eligible green projects. The deal builds on an existing memorandum of understanding signed by PIF and SACE in March 2025.

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