Saudi Arabia Launches National Infrastructure Fund
Umer Jamshaid Published October 25, 2021 | 05:30 PM
RIYADH, (UrduPoint / Pakistan Point News - 25th Oct, 2021 ) :Saudi Arabia has launched a national infrastructure fund to invest 200 billion Riyals (53.3 billion U.S. Dollars) in projects over the next decade, the Saudi Press Agency reported Monday.
The fund will invest in transportation, water, energy, health, education, communication and digital infrastructure, said the report.
Under the kingdom's National Development Fund, the fund will finance privatized infrastructure projects and create investment opportunities for those projects.
Saudi Arabia has been striving in recent years to diversify its economy and reduce its reliance on oil through empowering the private sector and offering different economic initiatives.
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