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National Development Fund Signs SAR5 Billion Credit Facility Deals

The National Development Fund (NDF) has signed two credit facility agreements with Al Rajhi Bank and Arab National Bank, according to the Saudi Press Agency. With a total amount of SAR5 billion, the move seeks to further support development projects across the Kingdom and empower its 12 developments funds and banks to achieve their objectives. NDF's Vice Governor Khalid Shareef noted that this initiative perfectly aligns with the fund's strategy to boost collaboration between the government and the private financial sector. Such collaboration would further provide credit products to the development system through the fund and its associated development banks. Consequently, these institutions would efficiently carry out their strategic projects and turn their plans into real actions. Therefore, they would significantly contribute to the economic growth and fulfill the Saudi Vision 2030 objectives as well. National Development Fund Signs SAR5 Billion Credit Facility Deals Crucially, the new deals stand as a testament to the NDF's commitment to strengthen economic growth and achieve comprehensive and sustainable development. Overall, the initiative aims to foster the Kingdom's economic growth and accelerate the national transformation process. Related Topics: Georgian Prime Minister Meets CEO of Saudi Fund for Development Finance Minister Wraps Up OPEC Fund Engagements SVC Announces Major Investment in Global Ventures VC Fund Short link : Post Views: 20 Related Stories