Saudi Arabia's USD620bn sovereign wealth fund, the Public Investment Fund (PIF), is expected to tap international debt markets for a debut green bonds issue as soon as this week, five sources familiar with the matter said. The fund is at the centre of Saudi Arabia's ambitious reform plans being spearheaded by de facto ruler Crown Prince Mohammed bin Salman to wean the economy off oil. The crown prince said in December that it would invest about USD40bn in the local economy this year, after spending about USD22bn last year.

Source: Reuters