The regime of Saudi Crown Prince Mohamed bin Salman has adopted promoting fake achievements to increase the growth of the Public Investment Fund. These claims were proven to be false as Bin Salman's regime has requested new loans worth $10 billion to secure additional liquidity to finance MBS’s plans, although the Investment Fund that manages Vision 2030 projects has a $400 billion portfolio.
Reuters news agency quoted sources as saying that the investment fund is collecting this loan for general purposes, and is now conducting consultations and talks with several banks from the last year 2020, in order to facilitate obtaining this loan, which may increase its value from 10 billion dollars to 13 billion, in a revolving loan which could be renewed perhaps for four consecutive times.
According to Saudi financial reports, this loan will raise the value of the KSA’s total loans to more than $30 billion, after the KSA approved two loans worth $21 billion over the past years.
It is noteworthy that the revolving loan is a loan that can be withdrawn, repaid, and withdrawn again during the agreed lending period, with all its interests paid on time.
Over the past period, MBS launched the investment fund strategy for the years 2021-2025, where his statements shed light on the lies he made, the latest of which was that the investment fund of the KSA will increase the value of its portfolio during these years to $7.5 trillion by 2030.
MBS had previously said that the Kingdom’s Investment Fund would control 10% of the total investments globally, and its assets would amount to 3% of the globe's assets.
It is worth noting that 2020 has passed and the investment fund’s portfolio has not reached $1.5 trillion, as was promised before.
The recurrent lies of Bin Salman about the alleged economic renaissance of KSA during his tenure are no longer acceptable to the public opinion after he failed in all the projects he launched, such as NEOM and The Line, and other projects that did not improve the economic condition of KSA or its people.
When would bin Salman stop lying and claiming false heroism?
