Saudi Arabia approves subscription to International Bank for Reconstruction shares

23/07/2019 Argaam

 

The Saudi cabinet has approved allowing the Kingdom to subscribe to its shares in the capital stock of the International Bank for Reconstruction and Development (IBRD), based on IBRD's Board of Governors resolutions issued in October 2018 on general and selective capital increase.

 

The cabinet decision came after reviewing the recommendations of Saudi Arabia's minister of finance and the Council of Economic and Development Affairs, the Saudi Press Agency reported on Tuesday.

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