Saudi Arabia is grappling with rising borrowing costs as it embarks on massive spending plans

• It's getting more expensive for Saudi Arabia to borrow, with a key lending rate hitting a record 6%.
• The Gulf Kingdom plans to spend hundreds of billions of dollars as part of its Vision 2030 project.
• It plans to fund those efforts with a combination of oil revenue and borrowed cash.

It's getting more expensive for Saudi Arabia to borrow cash, just as the Gulf Kingdom begins a huge spending project spearheaded by its leader Mohamed bin Salman.