Several specialized development funds and banks have been established in the Kingdom of Saudi Arabia. In 2017, the National Development Fund was established to enhance the performance of these funds and banks to better serve developmental priorities and economic needs in line with the goals and pillars of Saudi Vision 2030. The list of development funds and banks includes:
Real Estate Development Fund
The fund was established by Royal Decree No. (M/23) on July 1, 1974, to provide and develop diverse and balanced financing programs.
Saudi Industrial Development Fund
The fund was established by Royal Decree No. (M/3) on March 20, 1974, to achieve the goals, policies, and programs related to the industrial development in the Kingdom.
Social Development Bank
The bank was established by Royal Decree No. (M/34) on June 27, 2006, to provide facilitated developmental financing programs for citizens.
Tourism Development Fund
The fund was established by Royal Order No. (A/30) on September 25, 2019, to enable the tourism sector and attract tourism investments.
Cultural Development Fund
The fund was established by Royal Decree No. (M/45) on January 7, 2021, to develop the cultural sector, achieve sustainability, and facilitate investment in cultural activities.
Small and Medium Enterprises Bank
The bank was established by Council of Ministers Decision No. (376) on February 16, 2021, to increase financing for the small and medium-sized enterprises sector and bridge the financing gap.
Saudi Fund for Development
The fund was established by Royal Decree No. (M/48) on August 31, 1974, to finance development projects in developing countries by granting loans, providing technical assistance, and offering financing and guarantees for non-oil national exports.
Agricultural Development Fund
The fund was established by Royal Decree No. (M/9) on January 27, 2009, to serve as a government credit institution in the fields of agricultural activity.
Human Resources Development Fund
The fund was established by Council of Ministers Decision No. (107) on July 31, 2000, to create a mechanism for contributing to developing a productive, sustainable, and qualified Saudi national workforce.
Saudi EXIM Bank
The organization of the bank was approved by Royal Order No. (423) on February 18, 2020, to enhance the development of Saudi exports.
Events Investment Fund
The fund was established by Royal Order No. (A/91) on October 20, 2019, it specializes in all matters related to the tourism, entertainment, sports, and cultural sectors' events.
National Infrastructure Fund
The Council of Ministers approved its establishment in October 2021 to enable and accelerate strategic infrastructure projects in the Kingdom, contributing to the achievement of the objectives of Saudi Vision 2030.
Related quizzes
