In Saudi Arabia, there are several development financial institutions designed to support various sectors of the economy. Here’s a list of some of the key institutions:
1. Saudi Industrial Development Fund (SIDF) – Provides financing and advisory services to industrial projects in the Kingdom.
2. Agricultural Development Fund (ADF) – Offers financial support to the agricultural sector to enhance productivity and sustainability.
3. Real Estate Development Fund (REDF) – Focuses on providing loans for residential housing projects to increase homeownership among Saudis.
4. Social Development Bank (SDB) – Supports small and medium enterprises (SMEs) and offers social financing to individuals and families.
5. Saudi Fund for Development (SFD) – Extends financial aid and soft loans to support development projects in developing countries.
6. Human Resources Development Fund (HRDF) – Aims to increase employment opportunities for Saudis by supporting workforce training and development programs.
7. Cultural Development Fund (CDF) – Established to support cultural activities and projects, promote cultural investment, and achieve sustainability in the cultural sector. It focuses on various areas, including film production, content creation, preservation of heritage, and cultural infrastructure.
8. Tourism Development Fund (TDF) – Provides financing and investment solutions to support the growth of the tourism sector.
9. Saudi Exim Bank – Offers financial products and services to support Saudi exports and enhance international trade.
10. Small & Medium Enterprise Bank (SME Bank) – Facilitates access to financing for small and medium-sized enterprises to foster economic growth and innovation.
11. National Infrastructure Fund (NIF) – Aims to support the development of critical infrastructure projects in the Kingdom.
12. Events Investment Fund (EIF) – Supports the development and financing of events and entertainment projects within Saudi Arabia.
These institutions play a crucial role in achieving Saudi Arabia’s Vision 2030 by diversifying the economy and promoting sustainable development across various sectors.