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Kuwait Finance House looks at government projects in Saudi, including NEOM

The lender is looking to contribute to the financing of Saudi government and infrastructure projects in sectors including electricity and oil, said Abdulwahab Al-Roshood.  Saudi Arabia, a neighbour of Kuwait, is working on several so-called mega projects expected to require large financing, including NEOM, a $500 billion flagship business zone aimed at diversifying the economy of the world’s largest oil exporter.

KFH, which sold $750 million in Additional Tier 1 sukuk in June, does not plan to raise more capital through sukuk this year, but intends to issue new Islamic bonds in 2022.

Read the full story at Reuters