Saudi Arabia’s Public Investment Fund (PIF) invested up to $1.3 billion by increasing its shares in four companies, with the goal of boosting the national Saudi gross domestic product (GDP) and the private sector.
The investment aims at enhancing supply chains, increasing the construction sector’s competitiveness, and scaling up capacity. The four companies include Nesma & Partners Contracting Company, ElSeif Engineering Contracting Company, AlBawani Holding Company, and Almabani General Contractors Company.
PIF has also completed its second international bond issuance of $5.5 billion to finance eligible green projects. This is in line with the entity’s Green Finance Framework, which is compliant with the International Capital Market Association’s Green Bond Principles 2021 and the Loan Market Association’s Green Loan Principles 2021.
The bond aims to help further diversify debt funding sources and drive green investment in the Kingdom.
