Dubai, United Arab Emirates (CNN) – The Saudi Public Investment Fund announced that it has signed a $ 15 billion revolving multi-currency credit facility with 17 banks from Asia, the Middle East, Europe, the United Kingdom and the United States of America.
The fund said, in a statement, on Wednesday, that loans and debt instruments are among the sources of financing it adopted as part of its strategy, explaining that “the multi-currency revolving credit facility gives the fund flexibility to achieve its goals and manage its assets and obligations in a conservative manner.”
The fund also indicated that the facility will provide additional liquidity that can be used “whenever the opportunity arises.”
The Public Investment Fund recently revealed that its assets at the end of 2020 amounted to about $ 400 billion.
The current strategy of the Public Investment Fund program aspires to achieve the fund’s targets by 2025, which is represented by the fund’s assets exceeding 4 trillion riyals, or one trillion dollars, and pumping 150 billion riyals, or $ 40 billion, annually into the Saudi economy at least.
