NDF Signs Two Credit Facility Agreements Worth SAR5 Billion

The National Development Fund (NDF) has announced the signing of two credit facility agreements with Al Rajhi Bank and Arab National Bank, amounting to a total of SAR5 billion. This initiative aims to strengthen support for development projects within the Kingdom, enabling its 12 development funds and banks to achieve their goals, promote economic growth, and accelerate the national transformation process. The signing ceremony was held at the NDF headquarters in Riyadh.

 Vice Governor of NDF Khalid Shareef explained that this initiative is in line with the fund's strategy to enhance collaboration between the government and the private financial sector.

 "The goal is to provide credit products to the development system through the fund and its associated development banks. 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," he said.

 The signing of these agreements is part of the strategic initiatives led by the NDF, aimed at promoting economic growth, achieving comprehensive and sustainable development, strengthening the private sector, and enhancing the Kingdom's position as a global economic hub.