'The ministry is also working on a collateral free financing for SME's for phase 2 of the relief package'
'It is our endeavour to help small businesses'
He added that the authorities will further simply business procedures to promote investment in the country.
Saudi Aramco will offer 140 contracts worth 60 billion riyals ($16 billion) to small and medium-sized enterprises (SMEs) in the kingdom
RIYADH: Saudi Arabia's Public Investment Fund on Monday announced a new investment arm to provide financing for small and medium-sized enterprises, the state-owned PIF said in a statement. The four-billion-riyal ($1.1-billion) "Fund of Funds" will invest in venture capital and private equity targeting SMEs, the statement said. The fund is part of "Vision 2030", a broad programme of reforms launched by Crown Prince Mohammed bin Salman last year and aimed at diversifying the kingdom's oil-dependent economy. The new…