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15-11-22
PIF, BlackRock ink MoU to grow infrastructure venture investments
(MENAFN) US investment administration giant BlackRock is going to establish an enthusiastic team in the capital of Saudi Arabia as part of an agreement signed with Saudi Arabia’s Public Investment Fund to draw additional investment into the nation.
The PIF has inked a Memorandum of Understanding with the company to support draw local and global financiers to ventures, such as those in the energy, power, utilities, water, environment, transportation, telecommunication, as well as social infrastructure fields.
The MoU is the most recent action by the PIF to discover additional investment chances in the Middle East while growing the contribution of the Saudi private sector, and also matches the fund’s target to additionally grow its local and global investment portfolio.
During October, Saudi Arabia’s Crown Prince Mohammed bin Salman declared that PIF is going to build five more regional investment firms, in Sudan, Bahrain, Jordan, Oman, as well as Iraq.
This drives after the start of the Saudi Egyptian Investment Co. in August, and through all six firms the worth of the aimed investments is going to amount to SR90 billion (USD24 billion).
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