SMEs to benefit from Saudi Arabia's "Fund of Funds"
(MENAFN) Small and medium-sized enterprises (SMEs) will benefit from financial aid provided by Saudi Arabia's Public Investment Fund.
According to a statement by the state-owned PIF, the SR4billion (USD1.1b) "Fund of Funds" will invest in venture capital and private equity targeting SMEs.
This fund is part of "Vision 2030", a vast program of improvement launched last year by Crown Prince Mohammed bin Salman intended at expanding the Kingdom's oil-dependent economy.
According to a statement by the state-owned PIF, the SR4billion (USD1.1b) "Fund of Funds" will invest in venture capital and private equity targeting SMEs.
This fund is part of "Vision 2030", a vast program of improvement launched last year by Crown Prince Mohammed bin Salman intended at expanding the Kingdom's oil-dependent economy.
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