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Saudi's Public Investment Fund to make half of investments domestically - prince
May 2, 2017 / 6:53 PM / 5 months ago

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

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

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.

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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