PIF launches Fund of Funds to support SMEs

18/12/2019 Argaam

 

Saudi Arabia’s Public Investment Fund (PIF) launched a new company under the name of Fund of Funds “Jada” to support and empower small and medium enterprises (SMEs).

 

The SAR 4 billion company will invest in venture capital and private equity funds, PIF said on its official Twitter account.

 

PIF expected Jada to have a significant impact through creating jobs, diversifying local economy, as well as boosting SMEs’ contribution to the Kingdom’s Gross Domestic Product (GDP).

 

Jada is a first of its kind to stimulate SMEs, as it seeks to generate lucrative returns to ensure fiscal sustainability, in line with Saudi Arabia’s key objective to enable SMEs.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.