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Saudi Arabia’s Public Investment Fund (PIF) has reported a loss on investment activities of around $11 billion last year compared to a profit of $19 billion in 2021, Bloomberg reported on Tuesday citing the wealth fund’s published accounts.
The loss attributable to PIF's owner was 36.6 billion riyals ($9.8 billion) in 2022, down from a profit of 81.8 billion riyals, the report said.
Total assets of the PIF rose to about $778 billion from $676 billion. Borrowing by the fund reached $85 billion at the end of last year. It raised $5.5 billion from a three-part green bond sale earlier this year.
(Writing by Brinda Darasha; editing by Seban Scaria)
