This agreement contributes to enabling the funds to achieve their objectives and promote economic growth, in addition to accelerating national transformation. The agreement will enable the funds to achieve their objectives and promote economic growth, in addition to accelerating national transformation.
The agreement will enable the funds to achieve their objectives and promote economic growth, in addition to accelerating national transformation.
Credit Facility Agreement Signed
The agreement was signed at the headquarters of the National Development Fund in the presence of NDF Governor Dr. Stephen Paul Grove, Deputy Governor Khalid Sharif, and National Bank of Saudi Arabia CEO Tariq Alsadhan.The agreement was signed at the headquarters of National Development Fund.
Mohammad Elias, Senior Executive Director of Treasury, represented the Fund, while Al Ahli Bank was represented by Nasser Al-Freih, Head of Corporate Banking Business Group.
Supporting development projects
In a statement, the governor of the Fund confirmed that the agreement comes within a series of financing agreements with commercial banks this year, bringing the total credit facilities to 13.5 billion riyals.
He explained that these agreements are part of a series of financing agreements with commercial banks this year. He explained that these agreements reflect the strength of the partnership with the banking sector and are an important step in the Fund's strategy to enhance cooperation between the government and private financial sector, support the implementation of strategic projects and achieve the targets of Kingdom Vision 2030.
The Fund signed a series of financing agreements with commercial banks this year, bringing the total credit facilities to 13.5 billion riyals. The Fund had previously signed four agreements with commercial banks, including Al Rajhi Bank, Arab National Bank, Riyad Bank and First Saudi Bank, with a total value of 10.5 billion riyals.
The Fund has previously signed four agreements with commercial banks, including Al Rajhi Bank, Arab National Bank, Riyad Bank and First Saudi Bank.
