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Apr

20

Saudi Arabia May Offer Cheap Loans to Spur Job-Rich Industries

By Tony Seruga

Plan likely to be finalized by June, finance minister says
Saudis set to sell more bonds, rather than tap FX reserves

Saudi Arabia may offer “almost interest-free” loans to companies in labor-intensive industries, as part of a plan to stimulate an economy squeezed by low oil prices and spending cuts, Finance Minister Mohammed Al-Jadaan said.

Officials are in talks with private companies about other kinds of government support too, Al-Jadaan said in an interview on Thursday in Washington, where he’s attending International Monetary Fund and World Bank meetings. The proposal will likely be ready by the end of the second quarter, he said…

Saudi Arabia May Offer Cheap Loans to Spur Job-Rich Industries

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