The foundation is one of the most influential in global philanthropy, with a focus on preventable diseases and child poverty
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The Custodian of the Two Holy Mosques, King Salman bin Abdulaziz of Saudi Arabia, approved the allocation of 100 billion riyals ($26.67 billion) from the kingdom's reserves to the Public Investment Fund on Wednesday, according to a statement carried by state news agency SPA.
The funds would be used to support both foreign and local investment, particularly opportunities in the local market that would help to build the private sector, the statement said.
It did not elaborate on a timeline for the investments. ($1 = 3.7498 Saudi riyals)
The foundation is one of the most influential in global philanthropy, with a focus on preventable diseases and child poverty
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