| From Gulfnews.com: The government of Saudi Arabia has been forced to foot the bill to ensure that work continues uninterrupted on several mega development projects in various regions of the kingdom. The government financing is being extended mainly through the Public Investment Fund (PIF), a state-owned investment arm.
The government has so far extended financing worth more than 11 billion Saudi riyals (Dh10.7 billion) to offset a marked decline in the volume of financing from the crisis-hit banking sector.........Full Article: Source
|