Saudi Fund Plans to Invest $24 Billion in Regional Countries
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Saudi Arabia’s sovereign wealth fund plans to invest $24 billion in Middle Eastern and North African countries as the oil-rich kingdom seeks to bolster regional economies.
The Public Investment Fund plans to set up companies to invest in Bahrain, Oman, Jordan, Iraq and Sudan, according to a statement. It will channel funds into several sectors including infrastructure, heath care, real estate and telecommunications. In August, the PIF started the Saudi Egyptian Investment Co. to invest in Egypt.