Saudi Arabia provided $40 bn from foreign reserves to PIF, says Minister

Saudi Arabia supported its sovereign wealth fund PIF with 150 billion riyals ($40 billion) from the central bank’s foreign reserves in March and April to enhance the fund’s investment capacity amid the coronavirus pandemic, Minister of Finance Mohammed al-Jadaan said on Friday. “Maximizing the return on the Kingdom’s assets will reflect positively on economic performance and public finances, and reduce the...

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