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BlackRock joins forces with Saudi Arabia to oversee National Infrastructure Fund
Investors - OCTOBER 26, 2021

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BlackRock joins forces with Saudi Arabia to oversee National Infrastructure Fund

by Kali Persall

BlackRock has been selected to advise on a new investment fund established to finance an infrastructure push in Saudi Arabia, according to Bloomberg.

BlackRock will help Saudi Arabia create and oversee the National Infrastructure Fund, which is expected to help finance some $53 billion worth of projects during the next decade.

The fund’s areas of focus will include water, transportation, energy and healthcare.

According to Reuters, the National Infrastructure Fund (NIF) is one of the development funds of the National Development Fund, a body created in 2017 to oversee and connect several economic development funds previously spread between various ministries and agencies.

BlackRock will advise it on the establishment of the fund, “to implement international best practices in the management and governance of specialized financial institutions and funds.”

“NIF will thus play a key role in broadening infrastructure investment opportun

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