Saudi finance minister says no immediate plans to transfer more funds to PIF | Reuters
Saudi Arabia's finance minister said on Monday there were no immediate plans to transfer more funds to the Public Investment Fund (PIF), the sovereign wealth fund at the centre of the kingdom's plans to diversify its economy away from oil.
The PIF manages over $600 billion in assets, a figure that has doubled in about two years.
"I think there is no immediate plan to transfer any funds to PIF," said Finance Minister Mohammed al-Jadaan, speaking at the World Economic Forum in Davos, Switzerland.
In 2020, the PIF got a $40 billion injection from the central bank, which Jadaan said at the time was done on an "exceptional basis".
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