Saudi's PIF subsidiary doles out $266K to combat COVID-19

Tabadul is a subsidiary of Saudi Arabia's wealth fund, Public Investment Fund

  
Image used for illustrative purpose. Magnifying glass and banknote Saudi Arabia.

Image used for illustrative purpose. Magnifying glass and banknote Saudi Arabia.

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The Saudi Company for Exchanging Digital Information (Tabadul) contributed 1 million Saudi riyals ($266,235) to the Ministry of Health's Health Endowment Fund to combat the spread of COVID-19.

Tabadul is a subsidiary of Saudi Arabia’s Public Investment Fund. It was established in 2009 to provide innovative technical and logistical solutions to the government and private sectors in the kingdom.

The government and many institutions in the kingdom have been quick to roll out stimulus packages as relief measures to support businesses and prop up the economy. (Read more here)

(Writing by Gerard Aoun; editing by Seban Scaria)

(gerard.aoun@refinitiv.com)

#SAUDI #PIF #COVID19

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© ZAWYA 2020

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