National Development Fund

The National Development Fund was established by Royal Order No. (A /13) dated 03/10/2017. 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. This will be achieved by:

Setting the right track for development funds and banks in Saudi Arabia to develop and enhance their performance and effectiveness and reach financial sustainability.

Ensuring that all objectives are aligned with Vision 2030 aspirations.

Minimizing any overlap between development funds and banks.

Fostering coordination between development funds and banks.

Empowering development funds and banks to realize their objectives.

At inception, a number of functions were articulated, including:

Undertake the overall organizational, regulatory and executive supervision of development funds and banks.

Take the necessary measures to achieve integration and coordination among development funds and banks and enable the achievement of their objectives.

Take the necessary measures to raise the adequacy of financing and development lending of the development funds and banks, and to enhance their sustainability.

Revise the competencies, strategies, organizations and structures of development funds and banks, their implementation plans, and the financing and lending mechanisms, and update these in a manner that meets the requirements of development priorities.

Participate in representing the Kingdom of Saudi Arabia in regional and international organizations, agencies, events and conferences relevant to the Fund’s mandate.

NDF and Vision 2030

Vision 2030 aims to create a robust foundation for a vibrant society, a thriving economy, and an ambitious nation. Grasping how vital economy diversification is to sustainability, Vision 2030 focuses on increasing the share of Non-Oil GDP and expanding private sector participation in the economy. By cultivating integration between development funds and improving their efficiency, effectiveness, and financial sustainability, NDF aims to significantly impact and overcome cyclical economic fluctuations in support of realizing Vision 2030 objectives.