Saudi Arabia plans to set up a $2 trillion megafund for post-oil era, Bloomberg reported, citing Saudi deputy crown prince Mohammed bin Salman.

 

"Deputy Crown Prince Mohammed bin Salman laid out his vision for the Public Investment Fund, which will eventually control more than $2 trillion and help wean the kingdom off oil," Bloomberg said on its website.

 

It said it had conducted a five-hour conversation with the senior Saudi prince who oversees ministries including finance, oil and the economy through the Council for Economic and Development Affairs. - Reuters