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Saudi Arabia’s National Debt Management Center announced the successful completion of the 2020 RI20 billion financing plan.
According to a statement from the center, cited by the Saudi News Agency, the sources of funding have been diversified through local and international publications of the Saudi government.
New funding channels have also been introduced which include: “alternative government funding, supply chain funding and private placements, in addition to the project to unify local government issues.”
The Center also announced, “according to the annual issuance schedule,” that it had completed receiving investor requests for its local December 2020 show under the Saudi government’s sukuk program in Saudi riyals.
The volume of requests for the latest issue amounted to 11.72 billion riyals, and none of those requests were allocated due to the completion of local funding for this year.
Saudi Finance Minister Muhammad Al-Jadaan said in an interview with Al-Arabiya last May that the Kingdom had been severely affected by the economic fallout from the Corona pandemic, stressing the need to be very careful with public finances during this period, and that the global economic situation was fragile, and It is important to predict the worst at this point, which is the middle of the current year.
Regarding bank liquidity, Al-Jadaan said that liquidity is available to a very large extent in the Saudi banking sector.
Al-Jadaan said the finance ministry will continue to issue debt locally and abroad according to its cost, but care should be taken not to increase the cost of debt.
“We will borrow up to 220 billion riyal this year, depending on the market situation,” Al-Jadaan said at the time, which is in line with year-end figures released by the National Management Center. debt.
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