Agreements have been signed to set up venture capital funds in Saudi Arabia worth SAR 1.5 billion  ($400 million), Saleh Al Rasheed, governor of General Authority for Small and Medium Enterprises (Monshaat) told Al Arabiya TV on Wednesday.

 

“Those funds will be used to grant loans and for capital investments,” Al-Rasheed said at the Financial Sector Conference (FSC) in Riyadh.

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