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Saudi's Public Investment Fund to make half of investments domestically - prince
May 2, 2017 / 6:56 PM / 7 months ago

Saudi's Public Investment Fund to make half of investments domestically - prince

RIYADH (Reuters) - Saudi Arabia’s Public Investment Fund, its top sovereign wealth fund, will make half of its investments in the domestic economy, Deputy Crown Prince Mohammed bin Salman said on Tuesday.

Saudi Deputy Crown Prince Mohammed bin Salman attends a graduation ceremony and air show marking the 50th anniversary of the founding of King Faisal Air College in Riyadh, Saudi Arabia, January 25, 2017. REUTERS/Faisal Al Nasser

In a nationally televised interview discussing the government’s economic policies, Prince Mohammed also said authorities would announce a housing program in the third quarter of this year.

The government will provide over 1 million housing units through soft loans or the Saudi Real Estate Development Fund, he said without giving a time frame.

Prince Mohammed said the government was committed to providing medical treatment to its citizens but would not necessarily manage hospitals.

Reporting by Riyadh team; Writing by Andrew Torchia

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