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FINANCIAL NEWS
Saudi, Russian fund to invest USD10b
22 Jun 2015
(MENAFN) Saudi Arabia’s government, jointly with a Russian fund, is set to invest a total of USD10 billion after singing a Memorandum of Understanding (MoU), according to official statements, Reuters reported.
Specifically, the signing went on between Saudi Arabia’s Public Investment Fund (PIF) and the Russian Direct Investment Fund (RDIF). A collaboration deal in the nuclear power sector has also been agreed upon between the two parties.
Details regarding the joint investment remain yet undisclosed. Originally, however, PIF was founded to help support Saudi economy, while the RDIF to make equity investments mainly in Russia.
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