Latest news with #NationalDevelopmentFund
CairoScene
6 days ago
- Business
- CairoScene
KSA National Development Fund Signs SAR 5 Billion in Credit Facilities
The National Development Fund signs two SR 5 billion credit facility agreements to support private-sector growth and fund strategic development initiatives across the Kingdom. Jul 07, 2025 The Saudi Arabian National Development Fund (NDF) has signed two credit facility agreements totalling SR 5 billion, marking a significant step in supporting the private sector and advancing national development objectives. The first agreement - amounting to SR 3 billion - is aimed at expanding financing solutions tailored for small and medium-sized enterprises (SMEs). The second, totalling SR 2 billion, targets mid-cap enterprises operating in strategic sectors aligned with Saudi Vision 2030. These agreements were formalised as part of NDF's ongoing mission to foster economic diversification and empower private-sector growth. By providing enhanced access to capital across enterprise sizes, the new lines are expected to unlock investment in critical industries and new business ventures. The initiative also supports job creation, innovation, and development of domestic supply chains, key priorities under the country's economic reform agenda.
Arab News
6 days ago
- Business
- Arab News
Saudi Arabia's National Development Fund secures $1.3bn in credit facilities to boost development projects
RIYADH: Saudi Arabia's National Development Fund has secured SR5 billion ($1.3 billion) in credit facilities through two agreements with Al-Rajhi Bank and Arab National Bank. The deals are designed to enhance funding for key development projects across the Kingdom, empowering its 12 affiliated development funds and financial institutions to drive economic growth and accelerate national transformation, according to the Saudi Press Agency. The agreements represent a strategic move in the NDF's push to promote sustainable development and strengthen Saudi Arabia's private sector, reflecting the Kingdom's increasing reliance on public-private partnerships to drive economic growth. This approach supports broader efforts to reduce government dependence and enhance private investment in key sectors, such as infrastructure, renewable energy, and technology. The pacts were formalized during a signing ceremony at the fund's headquarters in Riyadh. Khalid Shareef, vice governor of the NDF, said that the initiative aligns with the fund's strategy to foster stronger partnerships between the government and private financial institutions. 'The goal is to provide credit products to the development system through the fund and its associated development banks,' Shareef said. He added: 'This will empower these institutions to effectively implement their strategic projects and expansion plans, thereby increasing their contribution to economic growth and supporting the objectives of Saudi Vision 2030.' In a separate statement, Al-Rajhi Bank announced that the deal with NDF is valued at SR3 billion for a 12-month duration. 'The agreement aims to strengthen the support of development projects in the Kingdom and enable the development banks of the development system to achieve their development goals, contributing to enhancing economic growth and accelerating the pace of national transformation,' the statement said. In a post on its official X account, the NDF said that the agreements are part of its 'commitment to supporting development projects and empowering funds and banks within its ecosystem.' Speaking to Arab News in February, Jaber Al-Salah, chairman of the academic chapter and member of the steering committee of the World Association of Public-Private Partnership Units and Professionals, explained how the deals align with the Vision 2030 drive to boost the private sector's contribution to gross domestic product from 40 percent to 65 percent by the end of the decade. 'PPPs offer several benefits to the private party, making them an attractive option for collaboration. These partnerships also support government objectives by improving public asset efficiency, enhancing service coverage, quality, and rationalizing spending,' he said.
Leaders
6 days ago
- Business
- Leaders
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
Zawya
03-07-2025
- Business
- Zawya
Oman wealth fund OIA's assets jump to $53bln in 2024; profit falls by 7.81%
The Oman Investment Authority (OIA) reported a rise in total assets to $53 billion in 2024, up from $49.89 billion recorded in 2023. However, the wealth fund posted a 7.81% decline in annual profit, which fell to $4.12 billion from $4.416 billion the previous year. OIA transferred $2.1 billion to the state budget last year, marginally higher than the $2.08 billion contributed in 2023. Last year, OIA investments were distributed across more than 50 countries, with Oman accounting for the largest share at 61.3%, followed by North America at 19.9%, while the remaining portion was allocated across Europe, Asia, Africa, and Latin America. In terms of local sectors, OIA allocated its investments across various sectors, which the energy accounts for 68%, tourism and real estate for 9%, services and logistics for 8% each. 'In 2024, there was a notable increase in foreign investment inflows into local sectors, with committed foreign direct investment (FDI) reaching approximately OMR 2.8 billion by the end of the year through projects under the National Development Fund (NDF),' Sultan Al Habsi, Oman's Minister of Finance and Chairman of OIA's Board of Directors said in its annual report. Energy dominated at 68% of commitments, including additional funding for Duqm Refinery and launching the 500 MW solar plants. The rest targeted logistics, tourism, mining, and telecoms, with capital allocated to Asyad Container Terminal and reopening copper mines. OIA said its portfolio companies repaid $4.7 billion in debt, including a prepayment of $1.4 billion repayment by state energy group OQ. Sovereign guarantees fell to $4.7 billion, nearly half 2023 levels. Six assets were divested, one more than planned, raising fresh capital and broadening local equity participation. The flagship exit was a 25% IPO of OQ Exploration & Production. Amidst growing energy volatility and geopolitical risk, OIA said it plans to scale renewables, digital infrastructure, and critical minerals, while trimming hydrocarbons and divesting non-core assets. (Writing by Bindu Rai, editing by Seban Scaria)
Zawya
26-06-2025
- Business
- Zawya
Oman: OIA reinvents sovereign investing with home-grown impact and global reach
MUSCAT: The Oman Investment Authority (OIA) is emerging as one of the most strategically repositioned sovereign wealth funds in the Gulf, as it shifts from traditional asset accumulation toward a new mandate—creating tangible, long-term value both at home and abroad. While 2024 marked a record year in financial terms, OIA's most notable transformation lies not in profits, but in purpose. Global SWF analysis shows that Oman's sovereign wealth fund is now prioritising economic diversification, innovation, and private sector development over purely financial metrics. More than 61 per cent of OIA's assets are now invested inside the Sultanate of Oman—a rare statistic among global sovereign investors. This local-first strategy has turned OIA into a central engine of Oman's Vision 2040, a blueprint that aims to transition the economy away from hydrocarbons toward a more knowledge-based and inclusive model. NATIONAL DEVELOPMENT THROUGH INVESTMENT The National Development Fund (NDF), OIA's domestic investment arm, deployed RO 2.1 billion ($5.5 billion) in 2024, exceeding its target. These funds are being channeled into infrastructure, industrial diversification, and energy transition—key priorities under Vision 2040. Among the most visible projects are the Duqm Refinery, which anchors the fast-growing SEZAD zone; solar energy plants in Manah, supporting renewable capacity; and new mining ventures in Lasil and Al Baydha, expected to tap into Oman's underdeveloped mineral wealth. OIA's domestic deployment strategy is not merely about state-building—it is also about crowding in private capital and raising governance standards. The authority has already divested from 19 assets since 2022, with three IPOs—Abraj Energy Services, OQ Gas Networks, and Pearl REIF—raising over $2.5 billion. A further 30 divestments are planned by 2029, in sectors such as logistics, aquaculture, and utilities. The October 2024 listing of 25 per cent of OQ Exploration & Production—Oman's largest IPO to date—signaled growing liquidity and maturity in the Muscat Stock Exchange. For OIA, this marked a turning point: moving from direct ownership toward enabling private sector participation and competition. FUTURE FUND OMAN: A DOMESTIC CATALYST Perhaps the most transformative initiative launched by OIA is Future Fund Oman, a RO 2 billion ($5.2 billion) platform launched in late 2023 to finance domestic transformation. The fund is focused on large-scale projects, SMEs, and startups—especially those with innovative or tech-forward business models. In its first year alone, the Future Fund approved over $2 billion in investments. Strikingly, around 75 per cent of the capital came from international partners, highlighting growing global interest in Oman's evolving economic model. The fund is expected to play a pivotal role in bridging the financing gap for non-oil sectors and accelerating the growth of locally embedded supply chains, industrial zones, and export-ready enterprises. GLOBAL ENGAGEMENT WITH LOCAL RETURNS While the fund's domestic focus is clear, its global engagements are increasingly shaped by the principle of strategic reciprocity. Every international deal must return value to Oman—whether through knowledge transfer, supply chain access, or sectoral expertise. Recent global ventures illustrate this approach. In the US, OIA took a stake in Tidal Vision, a startup developing biodegradable materials from seafood waste. In Singapore, it joined Golden Gate Ventures in a $100 million venture capital initiative, establishing a presence in Muscat to support deep-tech incubation. A high-profile move was OIA's participation in Elon Musk's xAI—alongside sovereign peers from Saudi Arabia and Qatar—connecting Oman's capital to frontier sectors such as generative AI and autonomous systems. BUILDING TALENT FOR A DIVERSIFIED FUTURE Human capital development is a cornerstone of OIA's updated strategy. The authority helped create nearly 1,400 new jobs in 2024, while Omanisation across its portfolio companies reached 77.7 per cent. Through programmes such as Jadarah, Nomou, and Eidaad, OIA is also integrating training and professional development directly into its investment framework. These initiatives are structured to align educational pathways with labor market demands, especially in emerging sectors like clean energy, logistics, and digital infrastructure. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
