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Saudi Economy Minister, World Bank Review Kingdom’s Economic Reforms

The meeting in Riyadh discussed a number of issues, including ways to enhance cooperation and strategic partnership between Saudi Arabia and the World Bank. SPA
The meeting in Riyadh discussed a number of issues, including ways to enhance cooperation and strategic partnership between Saudi Arabia and the World Bank. SPA
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Saudi Economy Minister, World Bank Review Kingdom’s Economic Reforms

The meeting in Riyadh discussed a number of issues, including ways to enhance cooperation and strategic partnership between Saudi Arabia and the World Bank. SPA
The meeting in Riyadh discussed a number of issues, including ways to enhance cooperation and strategic partnership between Saudi Arabia and the World Bank. SPA

Saudi Minister of Economy and Planning Faisal bin Fadhil Alibrahim has met with the delegation of the Executive Council of the World Bank Group, which is on a visit to the Kingdom.

Thursday’s meeting discussed a number of issues, including ways to enhance cooperation and strategic partnership between Saudi Arabia and the World Bank.

It also reviewed the economic reforms and transformations the Kingdom is witnessing under the Saudi Vision 2030 and its support to development banks affiliated with the group in developing countries.

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Saudi PIF Completes $7 bln Inaugural Murabaha Credit Facility

The Public Investment Fund (PIF) logo
The Public Investment Fund (PIF) logo
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Saudi PIF Completes $7 bln Inaugural Murabaha Credit Facility

The Public Investment Fund (PIF) logo
The Public Investment Fund (PIF) logo

Saudi Arabia's Public Investment Fund (PIF) completed on Monday a $7 billion inaugural murabaha credit facility.
In a statement, PIF said the credit facility is supported by a syndicate of 20 international and regional financial institutions.
PIF head of the Global Capital Finance Division and head of Investment Strategy and Economic Insights Division Fahad AlSaif said: “This inaugural murabaha credit facility demonstrates the flexibility and depth of PIF’s financing strategy and use of diversified funding sources, as we continue to drive transformative investments, globally and in Saudi Arabia”, the Saudi Press Agency reported on Monday.
This financing complements PIF’s successful sukuk issuances over the past two years, the statement added. It also underpins PIF’s strong financial position, as well as its best-practice approach to debt financing.
PIF is rated Aa3 by Moody’s with stable outlook and A+ by Fitch with stable outlook. PIF has four main sources of funding: capital injections from government, government asset transfers, retained earnings from investments, and loans and debt instruments.