The development system, which includes <a style="color: #993300;" href="https://ndf.gov.sa/ar/Pages/default.The National Development Fund and its affiliated development funds and banks, in its 2022 calendar year, achieved a number of achievements, agreements and innovative development programs launched during the fourth quarter of last year, aimed at achieving the economic, social and cultural targets of the Saudi Vision 2030 and increasing the developmental impact and financing the private sector and competencies in various fields.
The National Development Fund The report National Development Fund, explained that the achievements of the Development System during the past quarter included signing strategic cooperation agreements and financing beneficiaries from various sectors of the economy and segments of society, to exceed the amount of approved financing amounts by about (111) billion riyals last year.
The report added that the value of the approved financing amounts exceeded (111) billion riyals last year. The report added that the development system launched the work of the Small and Medium Enterprises Bank, which will work to increase financing and bridge the financing gap in the SME sector and raise its share in GDP from 20% to 35% by 2030, as a major catalyst for financing SMEs, which in turn revealed (6) financing products designed to suit the needs of the sector and market requirements.
The report added that the development system launched the Small and Medium Enterprises Bank, which will work to increase financing and close the financing gap in the SME sector and raise its share in GDP from 20% to 351 TP3T by 2030, as a major catalyst for financing SMEs. The Fund also issued its approval to establish the Industrial Fund Investment Company, which seeks to support the objectives of the National Industrial Strategy, develop the Kingdom's economy, increase the contribution of the private sector in investing in projects financed by the Industrial Fund and attract local and international investors to invest in the targeted sectors, and the development system signed financing agreements with NEOM Green Hydrogen Company to establish the largest green hydrogen production plant in the world to serve the objectives of sustainability and green development.
As part of the development system's endeavors to establish the largest green hydrogen production plant in the world to serve the objectives of sustainability and green development.
As part of the development system's efforts to achieve environmental sustainability and increase development in the industrial sectors, the Saudi Industrial Development Fund provided strategic development financing to establish the first Saudi brand of electric vehicles and enable it to enter the competition in this growing sector; the total approved loans to the Industrial Fund's clients exceeded (14) billion riyals during the year 2022 for more than (100) projects in the industrial, energy, mining and logistics sectors, and the Fund provided through its educational academy (70) programs and seminars that benefited more than (2600) trainees.
The Fund provided through its educational academy (70) programs and seminars that benefited more than (2600) male and female trainees. The Industrial Fund achieved The Industrial Fund also achieved the gold level of the King Abdulaziz Award for Quality and Organizational Excellence and worked on organizing the first industry hackathon of its kind in the Kingdom that aims to link youth ideas and creativity with the needs of national manufacturers.
On the other hand, he launched <a style="color: #993300;" href="https://amlak.net.The Tourism Development Fund during the last quarter, the “Tourism Aid for Hospitality” program, which aims to support new facilities and develop and renovate existing facilities in their ambitious tourism projects, by taking advantage of the Tourism Development Fund's flexible financing solutions, with allocations up to (10) million riyals, and a repayment period extending to (10) years, the program will facilitate the needs of the targeted projects, within the sectors of accommodation, restaurants, cafes and entertainment. The program will facilitate the needs of the targeted projects in the sectors of accommodation, restaurants, cafes, entertainment, as well as commercial franchising for these sectors, and to enhance the usefulness of the development financing programs offered, the Fund also launched the “Tourism Growth Center”, which aims to drive innovation, nurture talents and provide appropriate tools and the appropriate environment for entrepreneurs to help them establish successful tourism facilities by connecting them with high-value services and a network of partners in a vibrant community of highly skilled talents and competencies.
<In agricultural development and food security, the Board of Directors of <a style="color: #993300;" href="https://adf.gov.The Agricultural Development Fund provided loans in the fourth quarter of the last fiscal year 2022 for more than (950) million riyals, including various development loans for small farmers and breeders, financing investment in the poultry and greenhouse sectors, and operational loans for fish farming and production in inland waters. This included financing the sectors of cold storage warehouses, marketing centers for agricultural products, date processing and manufacturing industries, in addition to financing the import of agricultural products targeted in the food security strategy, bringing the total loans approved during the year to more than (6.3 billion riyals.
<a style="color: #993300;" href="https://www.sdb.gov.sa/en- The Social Development Bank also signed a cooperation agreement with the National Information Technology Development Program to finance the technology sector through the Lendtech initiative, which aims to support micro, small and medium technology companies by providing easy financing solutions for Saudi entrepreneurs wishing to invest in the IT sector, joining the range of support and development programs provided by the Social Development Bank. The bank's beneficiaries during the past year exceeded (63) thousand individuals and (8600) establishments with a financing value of (13) billion riyals, with the aim of raising the percentage of residential ownership to 70% by 2030 and providing sustainable housing and financing solutions, the value of real estate loans supported by the Real Estate Development Fund during the past year exceeded (72) billion riyals, approved by the Fund in partnership with financing bodies.
<Regarding an initiative to enrich Arabic content, the Cultural Fund signed a partnership agreement with the King Abdulaziz Center for World Culture (Ithra) to support the content industry and enhance joint cooperation in developing cultural projects, supporting and disseminating knowledge and nurturing national talents locally and internationally, as the Fund provides (15) million riyals in support targeting the program of small and medium enterprises that want to produce Arabic content read, audible or visual with international quality, and the Fund sponsored the Red Sea International Film Festival and its booth received heavy attendance and positive interaction from the public who expressed their interest in learning more about the film sector financing program. <In the field of international development, the Saudi Fund for Development provided financing worth more than 3.5 billion riyals, inaugurated 12 development projects and programs, and laid the foundation stone for 10 development projects and programs in various countries to support projects with real and tangible benefits for developing peoples and communities.
