Saudi Fund for Development

Overview

Sector

Development Cooperation

Country

Saudi Arabia

SDG

01 - No Poverty, 02 - Zero Hunger, 03 - Good Health and Well-being, 04 - Quality Education, 05 - Gender Equality, 06 - Clean Water and Sanitation, 07 - Affordable and Clean Energy, 08 - Decent Work and Economic Growth, 09 - Industry, Innovation and Infrastructure, 10 - Reduced Inequalities, 11 - Sustainable Cities and Communities, 12 - Responsible Consumption and Production, 13 - Climate Action, 14 - Life Below Water, 15 - Life on Land, 16 - Peace and Justice Strong Institutions, 17 - Partnerships for the Goals

Organization Type

Development Bank

URL

https://www.sfd.gov.sa/en/

Description

About


The Saudi Fund for Development was established by the Goveremrnet of Saudi Arabia in 1972. As defined in its charter, the Fund’s main objective is to participate in financing development projects in the developing countries by granting them concessional loans. Its activity is not geographically restricted, and it also deals directly with the governments of the developing countries in order to participate in financing priority development projects. The Fund provides financing priority to the least developed and low-income countries.


Objectives


As defined in its charter, the Fund’s main objectives are to participate in financing development projects in the developing countries by granting them the necessary loans, technical aids necessary for financing studies and institutional support and financing and guaranteeing the national non-crude oil exports


Management and Organization


The Fund is a general institution and legal entity of an independent financial status. It is managed by a ten members Board of Directors. The Fund’s Chief Executive Officer assumes the executive authority and he is responsible for the implementation of the Board’s decisions.


The Capital


The Fund has commenced its activities with a capital of ten billion Saudi Riyals provided by the Saudi government. This capital had then been increased in three phases to reach thirty one billion Saudi Riyals.

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Units

Development Projects