Crown Prince launches National Development Fund strategy

Crown Prince Mohammed bin Salman

Crown Prince Mohammed bin Salman launched the National Development Fund (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. 

The NDF strategy aims to support the sustainable development goals of all economic sectors through converting the fund to an integrated national financing institution to contribute to realizing the objectives of Vision 2030. NDF aims through the development funds and banks to stimulate the private sector's contribution to the Kingdom’s economy by more than three times by 2030. 

The fund will contribute to the Kingdom’s real gross domestic product (GDP) growth by investing more than SAR 570 billion by 2030. It targets raising the Kingdom’s non-oil GDP by over threefold to SAR 605 billion by 2030. 

NDF is one of the largest financing funds in terms of its ratio of assets to GDP in the G20 countries with assets of up to SAR 496 billion. 

NDF 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 Vision 2030. NDF will ensure that all objectives are aligned with Vision 2030 aspirations.