Mansour Al Maiman: Saudi’s PIF to flex its financial muscle
Mansour Al Maiman, secretary general of Saudi Arabia’s Public Investment Fund, tells Dominic O’Neill how his institution is adapting to the changing needs of his country.
The Public Investment Fund is a vital anchor of the Middle East’s financial and economic system. It has a mandate for investment in Saudi Arabia and is also a key tool in the kingdom’s drive to use its financial and mineral resources to grow its industrial strength.
PIF is more than a crucial partner of local and global banks and export credit agencies in the financing of large public and private sector commercial projects. The 38-year-old offshoot of the ministry of finance also holds the government’s stake in many of the country’s biggest companies, and is the kingdom’s foremost agency for the programme of partial privatizations on the stock exchange. It plans to invest $2 billion this year.
PIF’s secretary general, Mansour Al Maiman, talks exclusively to Euromoney’s Dominic O’Neill.
We have prepared and are ready to finance alongside commercial banks more than eight projects with a total cost of about $50 billion.