The Public Investment Fund, the sovereign wealth fund of the world’s largest oil exporter Saudi Arabia, has contacted international banks for a loan of up to US$7 billion to use for new investments, Bloomberg reported on Thursday, citing sources with knowledge of the plans. The Public Investment Fund (PIF), as the wealth fund is officially known, aims to be one of the world’s biggest sovereign wealth funds through investments in and outside Saudi Arabia. It is also a key investment vehicle for the Saudi plan to diversify…
