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Abu Dhabi Investment Office Opens 8 Global Offices

Abu Dhabi Investment Office Opens 8 Global Offices
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Abu Dhabi Investment Office Opens 8 Global Offices

Abu Dhabi Investment Office Opens 8 Global Offices

The Abu Dhabi Investment Office (ADIO) has set up eight new offices in Tel Aviv, New York, San Francisco, Frankfurt, London, Paris, Beijing and Seoul, in an effort to attract investors, the state news agency WAM reported.

The network of offices, in collaboration with the Abu Dhabi Department of Economic Development, expands ADIO's reach in key overseas markets, where it is looking to attract innovative businesses to establish and grow in the emirate, WAM cited ADIO as saying in a statement.

ADIO's international expansion complements its $545 million Innovation Program, which provides financial and non-financial incentives to innovation-driven businesses in high-growth areas.

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Saudi Minister of Finance Approves 2025 Annual Borrowing Plan

A night view of Riyadh, Saudi Arabia. (SPA)
A night view of Riyadh, Saudi Arabia. (SPA)
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Saudi Minister of Finance Approves 2025 Annual Borrowing Plan

A night view of Riyadh, Saudi Arabia. (SPA)
A night view of Riyadh, Saudi Arabia. (SPA)

Saudi Minister of Finance Mohammed Abdullah Al-Jadaan approved on Sunday the Annual Borrowing Plan for the fiscal year 2025, following its endorsement by the Board of Directors of the National Debt Management Center.

The plan highlights key developments in public debt for 2024, initiatives related to local debt markets, and the funding plan and its guiding principles for 2025, in addition to the 2025 issuances’ calendar for the Local Saudi Sukuk Issuance Program in Saudi Riyal.

According to the plan, the projected funding needs for 2025 are estimated at approximately SAR139 billion. The amount is intended to cover the anticipated budget deficit of SAR101 billion for the fiscal year 2025, as outlined in the Ministry of Finance’s Official Budget Statement, and the principals’ repayment of the debts maturing in the current year, 2025, amounting to approximately SAR38 billion.

To boost the sustainability of the Kingdom's access to various debt markets and broaden the investor base, Saudi Arabia aims in 2025 to continue diversifying local and international financing channels to efficiently meet funding needs.

This will be achieved through the issuance of sovereign debt instruments at fair pricing, guided by well-defined and robust risk management frameworks.

Additionally, the Kingdom plans to benefit from market opportunities by executing private transactions that can promote economic growth, such as export credit agency financing, infrastructure development project financing, capital expenditure (CAPEX) financing, and exploring tapping into new markets and currencies based on market conditions.