Riyadh - Mubasher: Saudi Arabia's Public Investment Fund (PIF) has signed a multi-currency revolving credit facility agreement worth $15 billion with 17 financial institutions from Asia, the Middle East, Europe, the UK, and the US, the state-run Saudi Press Agency (SPA) reported.
The facility will provide the sovereign wealth fund with extra capital that could be used when needed, according to a cited statement by the Fund.
As a part of the PIF's diverse and sustainable funding strategy, the credit facility reflects the Fund's prudent asset-liability management and flexibility.
The Fund will continue to drive Saudi Arabia's economic diversification by annually injecting SAR 150 billion ($40 billion) into the local economy.
