Saudi Arabia’s PIF plans to become the world’s biggest sovereign fund, controlling more than $2 trillion by 2030. REUTERS/Faisal Al Nasser
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Saudi Arabia's sovereign wealth fund will sign an $11 billion loan this week, marking its first-ever borrowing, according to people familiar with the matter.The PIF started approaching banks in July, people familiar with the matter said at the time.Morgan Stanley, Citigroup Inc., Standard Chartered Plc, BNP Paribas SA, Societe Generale SA, Mizuho Bank Ltd., MUFG, Credit Agricole SA, SMBC, Bank of America, Bank of China Ltd. and Industrial & Commercial Bank of China Ltd. also participated in the loan, the people said.The PIF plans to become the world's biggest sovereign fund, controlling more than $2 trillion by 2030 .
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