{"id":53533,"date":"2023-01-17T16:02:39","date_gmt":"2023-01-17T13:02:39","guid":{"rendered":"https:\/\/amlak.net.sa\/?p=53533"},"modified":"2023-01-17T16:02:39","modified_gmt":"2023-01-17T13:02:39","slug":"%d8%b5%d9%86%d8%af%d9%88%d9%82-%d8%a7%d9%84%d8%aa%d9%86%d9%85%d9%8a%d8%a9-%d8%a7%d9%84%d9%88%d8%b7%d9%86%d9%8a-111-%d9%85%d9%84%d9%8a%d8%a7%d8%b1-%d8%b1%d9%8a%d8%a7%d9%84-%d8%aa%d9%85%d9%88%d9%8a","status":"publish","type":"post","link":"https:\/\/amlak.net.sa\/en\/53533\/","title":{"rendered":"National Development Fund: 111 billion riyals to stimulate the local economy in 2022"},"content":{"rendered":"

The development system, which includes National Development Fund<\/a> <\/strong><\/span>and its affiliated development funds and banks concluded the calendar year 2022 having achieved a number of accomplishments and agreements andDevelopment Programs<\/strong> <\/span>the innovative initiative it launched during the fourth quarter of last year, which aims to achieve the economic, social, and cultural goals of the Kingdom\u2019s Vision 2030, increase the impact of development, and support the private sector and talent in various fields.<\/p>\n

A report explained that National Development Fund<\/a><\/strong><\/span>, that the achievements Development System<\/strong> Over the past quarter, the bank signed strategic cooperation agreements and provided financing to beneficiaries from various economic sectors and segments of society, with the total value of approved financing exceeding approximately 111 billion riyals last year.<\/p>\n

The report added that the Development Authority launched the Small and Medium-Sized Enterprises Bank, which will work to increase financing, bridge the financing gap in the small and medium-sized enterprise sector, and raise its share of GDP from 20% to 35% by 2030, serving as a key catalyst for SME financing. The bank, in turn, unveiled six financing products designed to meet the sector\u2019s needs and market requirements.<\/p>\n

The Fund also approved the establishment of the Industrial Investment Fund Company, which aims to support the objectives of the National Industrial Strategy and the Kingdom\u2019s economic development, increase the private sector\u2019s contribution to investment in projects financed by the Industrial Fund, and attract local and international investors to invest in theThe Development Authority signed financing agreements with NEOM Green Hydrogen Company to build the world\u2019s largest green hydrogen production plant to support sustainability and green development goals.<\/p>\n

As part of the development system\u2019s efforts to achieve environmental sustainability and promote growth in the industrial sectors, the Saudi Industrial Development Fund provided strategic development financing to establish the first Saudi electric vehicle brand and enable it to compete in this growing sector; bringing the total approved loans to the Industrial Fund\u2019s clients 14 billion riyals in 2022 for more than 100 projects in the industrial, energy, mining, and logistics sectors. and through its educational academy, the Fund offered (70) programs and seminars that benefited more than (2,600) male and female trainees.<\/p>\n

And achieved Industrial Fund<\/a><\/strong><\/span> It also won the Gold Level of the King Abdulaziz Award for Quality and Institutional Excellence, and organized the Kingdom\u2019s first-of-its-kind industrial hackathon, which aims to connect young people\u2019s ideas and innovations with the needs of national manufacturers.<\/p>\n

On the other hand, he launched Tourism Development Fund<\/a><\/strong><\/span> During the last quarter, the \u201cTourism Aid for Hospitality,\u201d which aims to support new establishments and the development and renovation of existing ones in their ambitious tourism projects, by leveraging the flexible financing solutions of the Tourism Development Fund, with allocations of up to 10 million riyals, and a repayment period of up to 10 years. The program will work to meet the needs of targeted projects in the accommodation, restaurants, and cafes sectors, and entertainment, as well as franchise opportunities in these sectors. To further enhance the effectiveness of its development financing programs, the Fund has also launched the \u201cTourism Growth Center,\u201d which aims to drive innovation, nurture talent, and provide entrepreneurs with the right tools and an enabling environment to help them establish successful tourism ventures by connecting them with high-value services, and a network of partners within a vibrant community of highly skilled talent.<\/p>\n

Regarding agricultural development and food security, the Board of Directors approved Agricultural Development Fund<\/a><\/strong><\/span> It extended loans in the fourth quarter of the previous fiscal year 2022 totaling more than (950) million riyals, including various development loans for small-scale farmers and livestock breeders, investment financing in the poultry and greenhouses, and working capital loans for fish farming and production in inland waters. This included financing for cold storage facilities, agricultural product marketing centers, date processing, and manufacturing industries, as well as financing the import of agricultural products targeted in the food security strategy, bringing the total amount of loans approved during the year to more than 6.3 billion riyals.<\/p>\n

And he signed Social Development Bank<\/a><\/strong> <\/span>In turn, a cooperation agreement was signed with the National Information Technology Development Program to finance the technology sector through the Lendtech initiative, which aims to support micro, small, and medium-sized technology companies by providing accessible financing solutions to Saudi entrepreneurs wishing to invest in the information technology sector; This initiative joins the range of support and development programs offered by the Social Development Bank to the community and entrepreneurs. Over the past year, the bank\u2019s beneficiaries exceeded 63,000 individuals and 8,600 businesses, with financing totaling 13 billion riyals, with the goal of raising the homeownership rate to 70% by 2030 and providing sustainable housing and financing solutions; the value of mortgage loans subsidized by the Real Estate Development Fund over the past year exceeded (72) billion riyals, which the Fund approved in partnership with financing institutions.<\/p>\n

Regarding an initiative to enrich Arabic content, the Cultural Fund signed a partnership agreement with the King Abdulaziz Center for World Culture (Ithra) with the aim of supporting the content industry, strengthening joint cooperation in the development of cultural projects, promoting and disseminating knowledge, and nurturing national talent both locally and globally, The Fund is providing 15 million riyals in support for a program targeting small and medium-sized enterprises that wish to produce Arabic content\u2014whether written, audio, or visual\u2014of world-class quality. The Fund also sponsored the Red Sea International Film Festival, where its booth attracted a large crowd and received positive feedback from the public, who expressed interest in learning more about the film sector financing program that the Fund plans to launch in early 2023.<\/p>\n

In the field of international development, the Saudi Fund for Development provided over (3.5) billion riyals in funding last year, launched 12 development projects and programs, and laid the foundation for 10 development projects and programs in various countries to support initiatives that bring real and tangible benefits to the peoples and developing communities of our sister and friendly nations.<\/p>","protected":false},"excerpt":{"rendered":"

Reading time: <\/span> 3<\/span> Minutes<\/span><\/span>The development system, which includes the National Development Fund and its affiliated development funds and banks, concluded the 2022 calendar year having achieved a number of accomplishments, agreements, and innovative development programs launched during the fourth quarter of last year, aimed at achieving the economic, social, and cultural goals of the Kingdom\u2019s Vision 2030 and increasing the development impact and financing of the private sector and talent across various fields. A report by the Fund \u2026 Read more<\/a><\/p>","protected":false},"author":27,"featured_media":53534,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"0","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","_seopress_news_disabled":"","_seopress_video_disabled":"","_seopress_video":[],"_seopress_pro_schemas_manual":[],"_seopress_pro_rich_snippets_disable_all":"","_seopress_pro_rich_snippets_disable":[],"_seopress_pro_schemas":[],"footnotes":""},"categories":[107],"tags":[],"class_list":["post-53533","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-funds-reits"],"acf":{"amlak_post_excerpt":"","amlak_post_excerpt_source":{"label":"Amlak post excerpt","type":"text","formatted_value":""}},"featured_image_urls":{"full":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2023\/01\/1666185146681823100.jpg",838,468,false],"thumbnail":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2023\/01\/1666185146681823100-150x150.jpg",150,150,true],"medium":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2023\/01\/1666185146681823100-300x168.jpg",300,168,true],"medium_large":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2023\/01\/1666185146681823100-768x429.jpg",768,429,true],"large":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2023\/01\/1666185146681823100.jpg",838,468,false],"1536x1536":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2023\/01\/1666185146681823100.jpg",838,468,false],"2048x2048":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2023\/01\/1666185146681823100.jpg",838,468,false],"trp-custom-language-flag":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2023\/01\/1666185146681823100.jpg",18,10,false],"event-thumbnail":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2023\/01\/1666185146681823100-300x200.jpg",300,200,true],"event-medium":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2023\/01\/1666185146681823100-600x400.jpg",600,400,true],"event-large":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2023\/01\/1666185146681823100.jpg",838,468,false],"event-hero":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2023\/01\/1666185146681823100.jpg",838,468,false]},"author_info":{"info":["\u0623\u0645\u0644\u0627\u0643 \u0627\u0644\u0639\u0642\u0627\u0631\u064a\u0629"]},"category_info":"\u0635\u0646\u0627\u062f\u064a\u0642 \u0648\u0631\u064a\u062a\u0633<\/a>","tag_info":"\u0635\u0646\u0627\u062f\u064a\u0642 \u0648\u0631\u064a\u062a\u0633","comment_count":"0","_links":{"self":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts\/53533","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/users\/27"}],"replies":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/comments?post=53533"}],"version-history":[{"count":0,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts\/53533\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/media\/53534"}],"wp:attachment":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/media?parent=53533"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/categories?post=53533"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/tags?post=53533"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}