The relevant authorities are currently working to launch the «National Infrastructure Fund» with the aim of developing infrastructure projects, involving the private sector in financing and privatization, and helping to reduce dependence on government subsidies by providing innovative financial and non-financial solutions. The fund will have legal personality, financial and administrative independence, and will be organizationally linked to the National Development Fund, In accordance with the regulations, the Fund provides all forms of financing, including various types of loans, and enters into contracts and agreements with any government or private financing entities for the purpose of establishing financing arrangements between lenders and borrowers, or to provide full, partial, or additional financing, or to provide guarantees for infrastructure facilities and projects.

The Fund is also responsible for entering into contracts, agreements, and memoranda of understanding related to its activities with parties inside and outside the Kingdom in English, and for agreeing on the governing law applicable to the subject matter of any dispute, and to include in contracts a provision for arbitration or the conclusion of an arbitration agreement, provided that this is in the Fund’s interest and in accordance with the regulations and policies established by the National Development Fund, It shall also accept mortgages and other forms of security, provide guarantees in all forms in accordance with the regulations established by the Board, and buy and sell public and private sector debt after evaluating it in accordance with the regulations and policies established by the National Development Fund; The Fund is responsible for writing off, discharging, or rescheduling the repayment of non-performing loans or bad debts in accordance with the regulations and policies, as well as for borrowing and other forms of indebtedness, including the issuance of sukuk, bonds, and other debt instruments, It also engages in all types of investment, including cash or in-kind investments using its capital and funds available from other sources of income, It may own and dispose of real estate, funds, and assets; invest in securities; and contribute to infrastructure development in its target locations, either directly or indirectly, through partnerships with the public or private sector, or both.

The Fund supports investment in infrastructure projects and provides advice to government agencies and infrastructure facilities. The Fund shall have a board of directors consisting of seven members, including the chairman, provided that they possess qualifications, experience, or professional expertise commensurate with the Fund’s work. The Chairman nominates the members and selects from among the Board members a person to act as his proxy in chairing meetings in his absence. The term of membership on the Board is three years, renewable once by decision of the Chairman of the Board of Directors of the National Development Fund. The Fund shall have an independent annual budget, and its resources shall consist of support provided by the State to facilitate its lending, or financing of all kinds, as well as cash flows from loans disbursed from its capital and the fees it charges for the services and work it provides