Saudi Arabia launches infrastructure fund in cooperation with BlackRock

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The Saudi Press Agency said today, Monday, that the Kingdom, based on the advice of BlackRock, the largest fund manager in the world, launched the National Infrastructure Fund to support projects amounting to 200 billion riyals ($53.32 billion) in the next ten years.
The fund will invest in vital sectors such as water, transportation, energy and health, and will contribute to Saudi Arabia’s plans for economic transformation, making the kingdom less dependent on oil revenues.The fund is one of the development funds of the National Development Fund, which was established in 2017 to supervise and link economic development funds, which was previously divided between different ministries and authorities.





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