Saudi Arabia’s finance ministry has signed financing agreements with local banks worth SAR25 billion ($6.65 billion) to fund infrastructure projects due to start in 2023-2024, the National Debt Management Center said on Wednesday.
Saudi Arabia’s planned projects come in line with the ministry’s goal to enable and support strategic infrastructure projects.
They seek to highlight the Kingdom’s efforts toward economic, social, and cultural diversification, in line with Vision 2030.
The infrastructure projects will strengthen areas of economic activity, create jobs and drive economic development.
Separately, Saudi Arabia’s Tadawul All Share Index (TASI) dropped 1.5% on Wednesday to close at 11,893 points, with the total value of traded shares reaching nearly SAR5.4 billion ($1.4 billion), its largest drop since June.
The Saudi Parallel Equity Market Index (NOMU) ended the day by dropping 0.69%, to close at 145.85 points.
