PIF sets up Iraq-Saudi investment vehicle

Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has launched a fund designed to invest in Iraqi infrastructure.

The Saudi-Iraqi Investment Company will launch with around US$3 billion in capital, which will be invested in mining, agriculture, real estate development and financial services.

Headquartered in Saudi Arabia, the company will initially be led by acting CEO Muteb Al-Shathri.

It is one of six regional investment vehicles planned by the PIF, with the others set to cover Jordan, Bahrain, Sudan, Oman and Egypt.

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