APICORP ratifies landmark callable capital increase to $8.5 billion – Saudi Gazette

APICORP ratifies landmark callable capital increase to $8.5 billion – Saudi Gazette

DAMMAM - The Arab Petroleum Investments Corporation (APICORP), a multilateral development financial institution, announced Monday that its General Assembly ratified a landmark increase in callable capital to $8.5 billion at its Annual General Meeting (AGM), as well as a significant increase in authorized and subscribed capital.. The increase in the capital reinforces long-term commitment towards APICORP's sustainable growth plans for the benefit of its member countries.. The callable capital increase further bolsters APICORP's financial sustainability and resiliency and its overall financial position.. The Corporation's authorized capital was also increased to $20 billion and subscribed capital to $10 billion, as well as transfer $500 million from the corporation's general reserves and retained earnings into its issued and fully paid capital..