DEFINITION of 'Public Investment Fund - Saudi Arabia'
The Public Investment Fund (PIF) of Saudi Arabia was established in 1971. It provides financing support to productive commercial projects that, while being strategically significant to the development of the Saudi Arabian economy, cannot be implemented by the private sector alone due to insufficient experience or capital resources.
BREAKING DOWN 'Public Investment Fund - Saudi Arabia'
The Public Investment Fund has funded numerous projects in important sectors of the Saudi Arabian economy, including petroleum refineries, petrochemical industries, pipelines and storage, transportation, energy, minerals, water desalination and infrastructural facilities. It has also participated in the capital funding of a number of bilateral and Pan Arab corporations.