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Saudi Press: PIF Signs US$ 15 Billion Multicurrency Revolving Credit Facility
Published in Saudi Press Agency on 11 - 03 - 2021

Saudi newspapers highlighted in their editorials today a number of issues at local, regional and international arenas.
Al-Riyadh newspaper reported in its editorial that Saudi Arabia has made qualitative leaps in indicators of e-government development and achieved advanced ranks in the classifications issued by international organizations. These achievements are a result of the wise leadership's interest in digital transformation. The government has launched numerous initiatives and programs related to digital transformation to achieve the goals of the Saudi Vision 2030, including reaching "A vibrant society and a thriving economy".
In this regard, the Cabinet approved the regulation of the Digital Government Authority. The approval came to confirm the leadership's keenness to create a digital environment that provides more electronic services to everyone in an integrated manner and raises the level of services that are currently provided.
Saudi Arabia has made a quantum leap in the United Nations E-Government Development Index ( EGDI). Moreover, Saudi Arabia came in the fifth rank among 10 countries in their use of "digital government", the newspaper added.
During the Coronavirus pandemic, Saudi Arabia adopted many digital initiatives that demonstrated its high technological readiness and the integration of its devices, and the ingenuity of its youths that can provide professional digital initiatives in all fields, the newspaper concluded.
Al-Yaum newspaper reported in its editorial that the continuing aggressive behavior of the Iranian regime, including adopting all ideas and terrorist entities and militias, is its way to achieve its suspicious expansionist agenda in the region.
The newspaper pointed to the speech of Prince Faisal bin Abdullah bin Farhan, Minister of Foreign Affairs, during the joint press conference with his Russian counterpart yesterday. The Prince said that Saudi Arabia will support any efforts to achieve stability in Syria.
He said that the Houthi militia's recent attacks on Saudi Arabia targeted the nerve center of the global economy. He added that the international community has a great responsibility to put pressure on the Houthis. He also noted that the Coalition declared a unilateral ceasefire in Yemen about a year ago.
Okaz newspaper reported in its editorial that the Public Investment Fund (PIF) has proven its success in moving forward towards achieving its goal to become the world's first sovereign fund.
The PIF has signed a US$ 15 billion multicurrency revolving credit facility agreement with a group of 17 leading global financial institutions from Asia, Middle East, Europe, the United Kingdom, and the United States.
The multicurrency revolving facility reflects PIF prudent asset-liability management and flexibility, and forms part of PIF's diverse and sustainable funding strategy within PIF's Vision Realization Programs 2018-2020 and 2021-2025, the newspaper added.
In another context, Al-Bilad newspaper said in its editorial that the Kingdom of Saudi Arabia is witnessing intense political activity with the meetings of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Deputy Prime Minister and Minister of Defense, with leaders and senior officials of many countries who visited Riyadh to enhance cooperation and to discuss regional and international developments.
These meetings reflect the position of the Kingdom of Saudi Arabia as a strong focal point, the focus of attention at various levels and its influential role in facing challenges.
The newspaper added that cooperation and coordination is the main approach in Saudi Arabia's policy, along with its constant eagerness to support regional and global stability. The Kingdom of Saudi Arabia has strengthened its role at all levels and in international forums and its support for peace and stability.


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