Saudi Arabia plans to expand the debt market to finance the Giga project.

The Saudi regulatory agency is planning to further expand the local debt market in order to raise more funds for mega projects. Abdulaziz Abdulmohsin Ben Hassan, a member of the five-member Board of Directors of the Saudi Capital Market Authority, stated that the total amount issued in the country's bond market is currently around $228 billion, equivalent to 18% of the GDP. In an interview, he mentioned that the goal is to increase this ratio to 28% by 2030 by encouraging more borrowing, introducing new instruments, and increasing foreign participation. Ben Hassan said, "We hope to make the Saudi debt market a cornerstone for financing mega projects." Since 2016, Saudi Arabia has become one of the largest construction markets in the world and as part of Crown Prince Mohammed bin Salman's "Vision 2030" plan, the country has launched projects worth around $1.3 trillion to attract investment and diversify the economy away from oil dependence.