The U.S. asset . 202-770-0344. The SAG declared it is investing nearly $220 billion through PIF, the National Development Fund, and the Royal Commission for Riyadh to transform Riyadh into a global city with 15 to 20 million inhabitants by 2030 (from its current population of about 7.5 million), and expects to attract a similar amount of investment from the private sector. NDF added that National Infrastructure Fund intends to support projects with a total value of 200 billion riyals over the next ten years. Board Of Directors. , SWFI has 1 subsidiaries, 2 personal contacts available for CSV Export. (M / 48) issued on 14/08/1394 AH, and aims to finance development projects in developing countries by granting loans to those countries, providing technical assistance, providing financing and guaranteeing non-oil national exports and contributing to achieving goals. Agricultural Development Fund introduced two initiatives worth 2.5 billion riyals ($665 million) to support farmers and facilitate food imports, said Muneer Alsahali, general manager of the Agricultural Development Fund. The total capital of National Development Fund (NDF) amounted to SR350 billion ($93.33 billion), CNBC Arabia reported, citing the fund's governor Stephen Groff. View Website Location: Riyadh I am an economist and Governor of the National Development Fund of Saudi Arabia. Weapon Program: Military; Address: No. Established 2017 Assets under Management (AuM): 93 Read here. rdooley@mei . (A /13) dated 03/10/2017. A worker in Saudi Arabia weighs Arabic incense inside a fragrance shop ILO The Kingdom of Saudi Arabia (Saudi Arabia) has been an ILO member state since 1976 and has ratified 16 ILO Conventions, including six of eight core Conventions. National Development Fund. His Excellency Dr. Majed Al-Qasabi. Authority. The National Development Fund will oversee the . Posted on 10/25/2021. He indicated that there are no . HRH Crown Prince Launches National Development Fund's Strategy to Boost Sustainable and Comprehensive Development View Details . At the time of its inception . . The fund, formed in 2017 to coordinate the activities of several government institutions, plans to provide an extra 22 billion riyals ($5.9 billion) to Saudi businesses, on top of the 25 billion . Saudi Fund for Development (SFD). This was a decrease of 25.3% in real terms in volume and a decrease in per cent of GNI from 2019. Saudi Arabia did launch a national infrastructure fund, touting it as a strategic partnership with the world's biggest asset manager, BlackRock, but the U.S. firm is advising Riyadh rather than . Saudi Tourism. Official development assistance. The Authority was established to support the growth of the travel and tourism sector, by serving the needs of tourism companies and other commercial partners. Infrastructure October 27, 2021 Saudi Arabia has launched a new national infrastructure fund in partnership with BlackRock, the world's largest asset manager. The National Industrial Development Center develops industrial parks and leads development in five sectors distinguished by exponential growth and targeting export abroad. Previously, I served as ranking Vice President of the Asian Development Bank, Deputy Director for Development Cooperation at the Paris-based Organisation for Economic Co-operation and Development and Deputy Vice-President for Operations at the . Control and Investigation Board. It was mandated to advance the performance of development funds and banks as well as to empower development funds and banks to better fulfil development priorities and economic obligations related to the Kingdom's Vision 2030. 15 May 2020 Details. BlackRock has been hired by Saudi Arabia to advise a new investment fund established to help finance a drive to upgrade infrastructure across the world's biggest oil exporter. The Saudi Fund for Development was established by Royal Decree No. Overview; Documents; BOQ; Notes; Result; Business Providers; Business Seekers; Sign In. Saudi Arabia to Host LEAP, Global Technology Platform, to Address Challenges Facing Humanity View Details . DUBAI: The creation of a joint development fund with France to assist Lebanon is the latest in a string of announcements signaling a ramp-up in Saudi aid to Middle East and North African countries . Real Estate Development Fund. Attacking other nations and disrupting the global economy has a price. 14/05/2022. The National: Saudi Arabia to unveil 60 water projects worth $9.33bn . It supports public sector spending by maximizing impact and socio-economic . The Kingdom booked a budget surplus of $15.3 billion (57.491 billion Saudi riyals) in the first quarter of 2022, the . National Development Fund, Saudi Arabia (Saudi National Development Fund) is a Government Fund located in Riyadh Saudi Arabia, Middle East. Real Estate Development Fund was established by Royal Decree No. Embassy of Saudi Arabia in the United States; Ministry of Foreign Affairs; Singapore. RIYADH: Advised by the world's largest fund manager BlackRock, Saudi Arabia has launched a National Infrastructure Fund to support up to 200 billion riyals ($53.32 billion) in projects over the next decade, state news agency SPA has reported. Saudi Arabia's National Development Fund may double its lending to local companies this year to help them overcome the fallout from the coronavirus. Saudi Arabia; Saudi Arabia starts $4bn tourism development fund. 1800 102 9586 contact@bidassist.com. Pricing; Indian Tenders. . Read here. Read here. Saudi Arabia launched an ambitious SR12 trillion ($3.2 trillion) program in March to boost the role of the private sector in diversifying the economy. The National Infrastructure Fund will invest in areas such as water, transportation, energy and health, contributing to Saudi Arabia's plans to transform . languages@mei.edu. National Development Fund (NDF) aims to upgrade the performance level of the Kingdom's development funds and banks, and to enhance their financial sustainability to be more achievable of their desired mandated objectives, all in service of the development priorities and economic requirements. The regime must be held accountable through diplomatic isolation and economic pressure. Following recognition in 1931, the United States and Saudi Arabia established full diplomatic relations, with exchange of credentials and appointment of the first U.S. ambassador . About the fund. These sectors are automobiles, minerals, mining operations, desalination, and energy spare parts, chemicals, pharmaceutical industries, and biotechnology. National Development Fund (Saudi Arabia) (Arabic: ) The National Development Fund was established by Royal Order No. Last month, Crown Prince Mohammed bin Salman launched the NDF strategy that aims to make the fund a pivotal enabler of the economic and social objectives of Saudi Vision 2030, through facing the existing development challenges, in line with the best global standards. To support and enable a vibrant Saudi Arabian culture that is true to its past and looks to the future by cherishing heritage and unleashing new and inspiring forms of expression for all. Muhammad bin Mazyad Al-Tuwaijri, Vice Chairman of the NDF Board of Directors, noted that this measure will help to assist infrastructure projects in critical areas like transportation, water, electricity, and . King Salman assumed the leadership of the Kingdom of Saudi Arabia on 3 Rabi' al Thani 1436H (January 23, 2015), on the death of King Abdullah bin Abdulaziz. Category: International . 2532 Al Shuhada District, Unit10 Riyadh 13241 - 7182 Saudi Arabia info@ndf.gov.sa Name (*) Mobile (*) +966 xx xxx xxxx Email (*) example@mail.com Subject (*) Message (*) Remaining: 500 char Content Rating (Employees and Sales figures are modelled). Together, both parties will support projects valued at over 200 billion riyals (US$53.4bn) in various sectors considered by the kingdom to be "vital" over the next four years. Agricultural Development Fund of Saudi Arabia (ADF). For information on Saudi Arabia's diverse and fascinating tourism offer, go to. SIDF has introduced a new package of financial products and services through the National Industrial Development and Logistics Program (NDLP) as a breakthrough in its quest toward realizing Vision 2030. Saudi Arabia Jumps 10 Places in World Economic Forum's Travel and Tourism Development Index . VisitSaudi.com. These sectors are automobiles, minerals, mining operations, desalination, and energy spare parts, chemicals, pharmaceutical industries, and biotechnology. Muhammad bin Mazyad Al-Tuwaijri, deputy chairman of the National Development Fund said in February that the Kingdom had started to work on the launch of an infrastructure fund. As the kingdom sets out on a path to diversify its economy away from hydrocarbons, the ILO in Saudi Arabia has been assisting the kingdom to address labour . 25 Gandhi St., National Development Fund of Iran Building, Tehran 15176-55911, Iran. DUBAI: The creation of a joint development fund with France to assist Lebanon is the latest in a string of announcements signaling a ramp-up in Saudi aid to Middle East and North African countries . "The National Industrial Development and Logistics Program is one of the most important programs for achieving Vision 2030, as it moves the Kingdom into a new era of sustainable development, prosperity and economic diversification." It empowers the development funds and banks to fulfil development priorities and economic obligations related to Vision 2030 of the kingdom. Explore more on National Development Fund. Al Arabiya: Saudi Arabia's Crown Prince launches new strategy for National Development Fund. Media Inquiries. Under the new strategy the fund will also help the kingdom triple non-oil gross domestic product (GDP) to 605 billion . The U.S. has sanctioned Iran's Central Bank and National Development Fund, both of which finance the regime's terrorism. Company Description:NATIONAL DEVELOPMENT FUND is located in Riyadh, Saudi Arabia and is part of the Administration of Economic Programs Industry. In addition, the overwhelming majority of Saudis84 per centbelieve that Saudi youth empowerment positively impacts national development across all sectors, while merely 13.5 per cent of respondents believe that Saudi youth empowerment positively impacts national development only in specific sectors. As of December 2020, the Fund is reported to have US$ 93.3 billion in total capital. Other Government Agencies. The Saudi Fund for Development was established by Royal Decree in the month of Sha'ban 1394 AH (1974) and began its operations in the month of Safar 1395 AH (1975). New projects. Month: Current Affairs - October, 2021. This Fund backed by Saudi Arabia's National Development Fund, which was set up in 2017 has an investment target of $53 billion spanning various sectors, including power and water, and is likely to further propel investment in renewables. National Development Fund of Saudi Arabia is a government entity that coordinates different Saudi development funds and banks and supervises their performance in order to enhance economic diversification and increase the sustainability of development financing. RIYADH: Saudi Arabia on Thursday announced a $30 million grant to support the Afghanistan Humanitarian Trust Fund. Agricultural Development Fund. Council of Saudi Chambers. Contact Us. The fund will launch a range of equity and debt investment vehicles, with an initial $4bn (SAR 15bn) capital and $45bn (SAR 165bn) in . The fund will launch a range of equity and debt investment vehicles, with an initial $4 billion (SAR 15 billion) capital and . The Kingdom booked a budget surplus of $15.3 billion (57.491 billion Saudi riyals) in the first quarter of 2022, the . The National Development Fund's (NDF) Board of Directors has approved a strategy by the Agricultural Development Fund (ADF) for a period extending from 2021 till 2025, the Kingdom revealed on Sunday. NDF was established by Royal Order No. Fax: +98 (21) 88640440. Al Arabiya: Etisalat offers to boost stake in in Mobily in $2.12 billion deal. King Salman was born in Riyadh in 1935 and received formal education at the Princes's School. More information about Saudi Arabia is available on the Saudi Arabia Page and from other Department of State publications and other sources listed at the end of this fact sheet.. U.S.-SAUDI ARABIA RELATIONS. This initiative comes within the framework of the urgent initiatives approved by the Saudi government to address the impact of COVID-19 and mitigate the economic impact on the private sector and its economic activities, and in line with the Saudi Arabia's National Development Fund (NDF) declarations. National Development Fund of Saudi Arabia is a government entity that coordinates different Saudi development funds and banks and supervises their performance in order to enhance economic diversification and increase the sustainability of development financing. It was mandated to advance the performance of development funds and banks in the Kingdom as well as to empower development funds and banks to better fulfil development priorities and economic obligations related to . The Ministry of Culture has a central role to play in each of the three main strategic pillars of Vision 2030: helping to create a vibrant society . Chairman of the Board of National Development Fund. Operated under the umbrella of the Islamic Development Bank in coordination with . A royal order was issued on Wednesday establishing the National Development Fund to be under the mandate of the Prime Minister. Saudi Tourism Authority. RIYADH, Saudi Arabia, Dec. 13, 2021 /PRNewswire/ -- The Council of Ministers, in its session held today, 12 December 2021, under the chairmanship of the Custodian of the Two Holy Mosques, King . Phone: +98 (21) 88640439. Department of Zakat and Income Tax. It seeks through its development funds and banks to stimulate a threefold increase in the private sector's development impact on the Kingdom's economy by 2030. BlackRock Inc., the world's largest asset manager, won a mandate to help Saudi Arabia create and oversee the National Infrastructure Fund. This fund was established in 2017, to advance the performance of development funds and banks in Saudi Arabia. NDLP contributes by adding SR 1.2 billion to GDP, generating jobs, improving the balance of payments, and strengthening the local content. All; By Keywords; By Authorities; By . Saudi development fund could double lending to weather Covid-19 crisis Saudi Arabia's National Development Fund plans to provide an extra $5.9bn to Saudi businesses, on top of the $6.8 it usually disperses annually "The calls for working capital loans, and other types of financing support, are definitely exceeding the average year," Groff said. The funds hold significant stakes in Saudi Arabian firms, including a combined $8.5 billion holding in Saudi National Bank and a $4.3 billion stake in Al Rajhi Bank, according to data compiled by . Members of the board appointed by the National Development Fund; Riyadh: Saudi Arabia's Ministry of Tourism has announced the formation of the Tourism Development Fund to boost growth across the sector. Currently, Saudi Arabia is enjoying a windfall from the high oil prices. Prime Minister. . NDF is intended to play an important role in realizing vision 2030 by fostering a system of employment opportunities and aims to expand the Kingdom's economic base to increase non-oil GDP growth. Agricultural Development Fund introduces two initiatives worth 2.5 billion riyals to Secure Supply. Monday, 29 June, 2020 - 12:15. Council of Cooperative Health Insurance. Saudi Arabia's National Development Fund to triple non-oil GDP by 2030 under new strategy The fund has pumped more than $184bn through its affiliates since it was founded in 2017 Saudi Arabia's Crown Prince Mohammed bin Salman has announced a new strategy for the kingdom's National Development Fund. National Development Fund Tender in Saudi Arabia for Apps Managed Services . The National Infrastructure Fund of Saudi Arabia plans to support up to 200 billion riyals in projects over the next decade, according to state news agency SPA. Language Classes. The National Development Fund (NDF) was established with the main objective, which is to raise the level of performance of development funds and banks in the Kingdom to work together to achieve the goal of its existence, at the same time and through coordination between the activities of the Fund and other development banks. The Saudi Agricultural Development Fund's strategy approved until 2025 (Asharq Al-Awsat) Riyadh- Asharq Al-Awsat. The fund was created to stimulate growth across Saudi tourism sector. Under the new strategy, the National Development Fund will aim to contribute to the Kingdom's real GDP growth by injecting more than 570 billion riyals ($152 billion) by 2030 and will aim to triple non-oil GDP to reach 605 billion riyals ($161 billion) by 2030, SPA reported. SPA, Jeddah. Saudi Gazette: KAUST awards $1.1 million in funding to 11 start-ups. Saudi Arabia. It supports public sector spending by maximizing impact and socio-economic . (M / 23) issued on 11/06/1394 AH and aims to provide and innovate various and balanced financing programs suitable for all segments of society and to achieve integration with the Ministry of Housing to implement its programs related to the beneficiaries. Saudi Arabia launched an ambitious SR12 trillion ($3.2 trillion) program in March to boost the role of the private sector in diversifying the economy. Saudi Arabia, officially the Kingdom of Saudi Arabia (KSA), is a country on the Arabian Peninsula in Western Asia.It has a land area of about 2,150,000 km 2 (830,000 sq mi), making it the fifth-largest country in Asia, the second-largest in the Arab world, and the largest in Western Asia.It is bordered by the Red Sea to the west; Jordan, Iraq, and Kuwait to the north; the Persian Gulf, Qatar . Jadaan, a PIF board member, said it would not be the "norm" for the fund which has pledged to invest $200bn in Saudi Arabia over the next five years to receive transfers from Sama's . National Development Fund of Islamic Republic of Iran. Request Profile Update Download Data 1 Subsidiaries 2 Contacts 1 News Articles Home Profiles Government Fund Middle East He was Crown Prince to King Abdullah from June 18, 2012 to January 23, 2015. . National Development Fund - Find the Latest News, Views, Reviews, Comments, Analysis, Updates, Photos & Videos on National Development Fund across Dubai, Abu Dhabi, UAE, Saudi Arabia, Gulf, GCC, Middle East & World. # . A royal decree amended the Saudi Revenue System to grant the National Development Fund - or whoever it delegates - the power to exempt from debt, or to pay it in installments for those who are unable to pay it all at once, to any of its affiliated funds and banks in accordance with controls and procedures approved by the Fund . The National Infrastructure Fund will invest in areas such as water, transportation, energy, and health, contributing to Saudi Arabia's plans to transform . Reuters Aarti Nagraj Mar 14, 2022 Moreover, NDF will contribute to Saudi Arabia's real GDP growth by injecting more than SAR 570 billion by 2030, added Crown Prince Mohammed. This will be achieved by: Address: Abi Al Karam , Hajir St,King Abdulaziz Road Riyadh, 12627 Saudi Arabia See other locations Phone: +966-920010092 Website: www.redf.gov.sa Welcome to. His Royal Highness Mohammad bin Salman bin Abdulaziz Al-Saud Crown Prince, Deputy Prime Minister. 23 December 2020 Stephen Groff, new governor of the Saudi National Development Fund Saudi Arabia is set to launch a new National Infrastructure Fund (NIF), under the ambit of the National Development Fund (NDF) and operated by BlackRock, which will use central bank excess forex reserves to pour tens of billions of debt and equity finance into power, water and healthcare projects over the next decade. The fund has started supporting Saudi investments abroad with amounts of $75 million, on the condition that at least 50 per cent of the project's crops be exported to the Kingdom . Communication and Information Technology Commission. The country expects the tourism industry to contribute more than 10 per cent of its annual GDP and create more than 1 million jobs . Jadaan said excess money can go towards the Public Investment Fund (PIF), Saudi Arabia's $600 billion sovereign wealth fund, and the National Development Fund (NDF). Saudi Arabia provided USD 1.5 billion (preliminary data), 1 representing 0.19% of gross national income (GNI) in 2020. DUBAI, Oct 25 (Reuters) - Saudi Arabia, advised by the world's largest fund manager BlackRock, has launched a national infrastructure fund to support up to 200 billion riyals ($53 billion) in . His Excellency Mohammed Al-Tuwaijri Vice Chairman of the Board of National Development Fund. Muhammad bin Mazyad Al-Tuwaijri, deputy chairman of the National Development Fund said in February that the Kingdom had started to work on the launch of an infrastructure fund. Chemical Company on its joint venture with Saudi Aramco to develop the project. National Development Fund Tender in Saudi Arabia for Apps Managed Services . Saudi Arabia's crown prince on Monday launched a new strategy for its National Development Fund that will see it inject more than 570 billion riyals ($151.94 billion) into the economy by 2030, state news agency SPA reported. Currently, Saudi Arabia is enjoying a windfall from the high oil prices. Advertisement Mission. This finding indicates Saudis' great . NATIONAL DEVELOPMENT FUND has 607 total employees across all of its locations and generates $47.18 million in sales (USD). Capital Market Authority. Under the new strategy, the National Development Fund will aim to contribute to the Kingdom's real GDP growth by injecting more than 570 billion riyals ($152 billion) by 2030 and will aim to . The Saudi Industrial Development Fund (SIDF) . Contact Us Contact Us Queries Please fill out the form for any query or request for information, and send it to us. Central Department of Statistics and Information. Within Saudi Arabia's gross ODA portfolio in 2019, 60.1% was provided in the form of grants . (A /13) dated 03/10/2017. Saudi Arabia, advised by the world's largest fund manager BlackRock, has launched a national infrastructure fund to support up to 200 billion riyals ($53.32 billion) in projects over the next decade, state news agency SPA said on Monday.. The National Industrial Development Center develops industrial parks and leads development in five sectors distinguished by exponential growth and targeting export abroad. Today, the Saudi Fund for Development (SFD) received, at its headquarters in Riyadh, a delegation from the United Nations Human Settlements Programme (UN-Habitat) headed by Prime Minister.