Oman’s sovereign wealth fund, State General Reserve Fund, is planning to launch a $1 billion infrastructure fund to increase investments in projects, including the Gulf state’s road, transport and energy systems, according to Bloomberg.
The sovereign wealth fund is in talks with international banks and potential investors for the fund’s financing.
The country is turning to public-private partnerships to help fill the gaps in its infrastructure program. Due to the drop in oil prices, Oman was considering merging its two main sovereign wealth funds, State General Reserve Fund and Oman Investment Fund, to create an entity with about $25 billion in assets, according to Bloomberg.
Oman is the largest Arab oil producer outside the Organization of Petroleum Exporting Countries, according to Bloomberg.
