Saudi Fund of Funds to get board soon, says Al Qasabi

19/09/2017 Argaam

A board of directors is currently being set up for Saudi Arabia’s Fund of Funds, Minister of Commerce and Investment Majid bin Abdullah Al Qasabi said, Saudi Press Agency (SPA) reported.

 

He said other financing facilities, along with the fund of funds, would be offered to the Kingdom’s entrepreneurs to help fund their projects. He was speaking on the sidelines the four-day Biban 2017 Forum, which started Sept. 17.

 

In August 2016, the Saudi Cabinet approved establishing a SAR 4 billion fund of funds by the Public Investment Fund (PIF) along with the ministry to support small and medium enterprises and develop the venture capital industry in the Kingdom, Argaam previously reported.

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