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National Development Fund (Saudi Arabia)
The National Development Fund (Saudi Arabia) (Arabic:صندوق التنمية الوطني) is a sovereign wealth fund of Saudi Arabia that was established in October 4, 2017. The fund aims to advance the performance of development funds and banks in Saudi Arabia as well as empower development funds and banks to better fulfill development priorities and economic obligations related to Saudi Vision 2030. Supervised Development Funds and Banks #Real Estate Development Fund (REDF). #Saudi Fund for Development (SFD). #The Saudi Industrial Development Fund (SIDF) . # Agricultural Development Fund of Saudi Arabia (ADF). # Social Development Bank (SDB). # Saudi Human Resources Development Fund (HRDF). # Tourism Development Fund (TDF). # Fund events related to the sectors of culture, entertainment, sports, and, tourism. # Cultural Development Fund (CDF). # Small and medium enterprises bank NDF and Vision 2030 Saudi Vision 2030 is a framework for Saudi economic diversification. Th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Riyadh
Riyadh (, ar, الرياض, 'ar-Riyāḍ, Literal translation, lit.: 'The Gardens' Najdi Arabic, Najdi pronunciation: ), formerly known as Hajr al-Yamamah, is the capital and largest city of Saudi Arabia. It is also the capital of the Riyadh Province and the centre of the Riyadh Governorate. It is the List of Arabian cities by population, largest city on the Arabian Peninsula, and is situated in the center of the An Nafud, an-Nafud desert, on the eastern part of the Najd plateau. The city sits at an average of above sea level, and receives around 5 million Tourism in Saudi Arabia, tourists each year, making it the List of cities by international visitors, forty-ninth most visited city in the world and the 6th in the Middle East. Riyadh had a population of 7.6 million people in 2019, making it the List of cities in Saudi Arabia, most-populous city in Saudi Arabia, List of largest cities, 3rd most populous in the Middle East, and List of metropolitan areas in Asia, 38th most ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mohammad Bin Salman
Mohammed bin Salman Al Saud ( ar, محمد بن سلمان آل سعود, translit=Muḥammad bin Salmān Āl Su‘ūd; born 31 August 1985), colloquially known by his initials MBS or MbS, is Crown Prince and Prime Minister of Saudi Arabia. He also serves as the chairman of the Council of Economic and Development Affairs and chairman of the Council of Political and Security Affairs. He is considered the ''de facto'' ruler of Saudi Arabia, being deemed as such even before his appointment as prime minister in 2022. He served as minister of defense from 2015 to 2022. He is the seventh son of King Salman. Mohammed was born as the eldest of six children to Prince Salman bin Abdulaziz and his third wife, Fahda bint Falah Al Hithlain. After obtaining a law degree from King Saud University, he served as an advisor to his father. After Salman ascended the throne in January 2015, he appointed Mohammed as minister of defense, and Mohammed was also given the role of deputy crown prince ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stephen Groff
Stephen P Groff is an economist and Governor of the National Development Fund of Saudi Arabia. Groff was appointed as Governor of the National Development Fund (NDF) in February 2019. He is responsible for establishing this new $130 billion development finance institution with the objective of supporting economic diversification and raising the level of performance of sectoral funds and development banks in Saudi Arabia. He was previously ranking vice-president of the Asian Development Bank (ADB) in Manila, Philippines. At ADB he was responsible for operations in East Asia, Southeast Asia, and the Pacific, amounting to over $6 billion in new lending every year and a portfolio of $35 billion. Education Groff was raised in Warren, Vermont, and graduated from Harwood Union High School He has a BS from Yale University, an MPA from the Kennedy School at Harvard University, and a PhD from the School of Social and Behavioural Sciences at Erasmus University. He earned the Pearson–FT ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Saudi Arabia
Saudi Arabia, officially the Kingdom of Saudi Arabia (KSA), is a country in Western Asia. It covers the bulk of the Arabian Peninsula, and has a land area of about , making it the List of Asian countries by area, fifth-largest country in Asia, the second-largest in the Arab world, and the largest in Western Asia and the Middle East. It is bordered by the Red Sea to the west; Jordan, Iraq, and Kuwait to the north; the Persian Gulf, Qatar and the United Arab Emirates to the east; Oman to the southeast; and Yemen to the south. Bahrain is an island country off the east coast. The Gulf of Aqaba in the northwest separates Saudi Arabia from Egypt. Saudi Arabia is the only country with a coastline along both the Red Sea and the Persian Gulf, and most of its terrain consists of arid desert, lowland, steppe, and mountains. Its capital and List of cities and towns in Saudi Arabia, largest city is Riyadh. The country is home to Mecca and Medina, the two Holiest sites in Islam, holiest citi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sovereign Wealth Fund
A sovereign wealth fund (SWF), sovereign investment fund, or social wealth fund is a state-owned investment fund that invests in real and financial assets such as stocks, bonds, real estate, precious metals, or in alternative investments such as private equity fund or hedge funds. Sovereign wealth funds invest globally. Most SWFs are funded by revenues from commodity exports or from foreign-exchange reserves held by the central bank. Some sovereign wealth funds may be held by a central bank, which accumulates the funds in the course of its management of a nation's banking system; this type of fund is usually of major economic and fiscal importance. Other sovereign wealth funds are simply the state savings that are invested by various entities for the purposes of investment return, and that may not have a significant role in fiscal management. The accumulated funds may have their origin in, or may represent, foreign currency deposits, gold, special drawing rights (SDRs) and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Saudi Vision 2030
Saudi Vision 2030 ( ar, رؤية السعودية ٢٠٣٠ ''ruʾyah al-suʿūdiyah'') is a strategic framework to reduce Saudi Arabia's dependence on oil, diversify its economy, and develop public service sectors such as health, education, infrastructure, recreation, and tourism. Key goals include reinforcing economic and investment activities, increasing non-oil international trade, and promoting a softer and more secular image of the Kingdom. It also consists of increasing government spending on the military, as well as manufacturing equipment and ammunition. The first details were announced on 25 April 2016 by Crown Prince Mohammed bin Salman. The Council of Ministers has tasked the Council of Economic and Development Affairs (CEDA) with identifying and monitoring the mechanisms and measures crucial for the implementation of "Saudi Arabia's Vision 2030". In 2021, ''The Guardian'' wrote despite Saudi Arabia's commitment to diversify its economy, the government was s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Saudi Fund For Development
The Saudi Fund for Development (SFD) is a Saudi Arabian government agency that provides development assistance to developing countries by financing social and infrastructure projects. The fund seeks to support the economies of recipient countries by enhancing economic growth and promoting job opportunities. SFD was established in 1974 and began operations in 1975. SFD's activities include development, finance, trade, and funding. The fund is led by H.E. Mr. Ahmed bin Aqeel Al-khateeb who also serves as the Minister of Tourism for Saudi Arabia. History SFD was established in 1974, it has financed infrastructure programs ( dams, transport) and vital social projects (healthcare facilities; Water, Sanitation and Health (WASH) programs and education) alongside other sectors such as energy and agriculture. Funding SFD’s capital now amounts to Saudi Arabian Riyals (SAR) 31 billion (US $8.3 billion), from an initial investment of SAR 10 billion (US $2.6 billion). SFD has contrib ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Saudi Industrial Development Fund (SIDF)
The Saudi Industrial Development Fund (SIDF) is a financial wing of the Saudi Arabian government established in 1974. The SIDF was established to provide mid-term and long-term loans to the private industrial sector. It is currently led by the Chief Executive Officer, Dr. Ibrahim Almojel. In 2018, the fund had appropriations of more than $2.4 billion, which has led to the establishment of 108 industrial projects. Previously, SIDF used to finance only local manufacturing businesses. However, 2019, SIDF has started to finance energy, logistics and mining projects in Saudi Arabia. SIDF and Vision 2030 SIDF exerts all efforts to maintain its pioneering role in the development of the local industrial sector and keep abreast with the latest developments. Saudi Vision 2030 Saudi Vision 2030 ( ar, رؤية السعودية ٢٠٣٠ ''ruʾyah al-suʿūdiyah'') is a strategic framework to reduce Saudi Arabia's dependence on oil, diversify its economy, and develop public service sec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Agricultural Development Fund Of Saudi Arabia
Agricultural Development Fund of Saudi Arabia (ADF) was founded pursuant to a royal decree in 1963. The main purpose of its establishment is to finance the agricultural activities in Saudi Arabia by providing loans to farmers A farmer is a person engaged in agriculture, raising living organisms for food or raw materials. The term usually applies to people who do some combination of raising field crops, orchards, vineyards, poultry, or other livestock. A farmer .... The Director General of the ADF is Munir bin Fahd Al Sahli. Since its establishment 54 years ago, the IDF had paid an amount of $8.8bn to support emerging and small farmers. In 2018, the ADF allocated an amount of $800m to promote the sustainable rural development program of Saudi Arabia. References Agriculture in Saudi Arabia Finance in Saudi Arabia Financial services in Saudi Arabia {{Portal, Saudi Arabia ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Saudi Human Resources Development Fund
The Human Resources Development Fund (HRDF) is a Saudi governmental authority that was established by a royal decree in July 2000. It falls under the Saudi Ministry of Labor and Social Development. HRDF is mainly concerned with providing financial support to organizations that train and qualify Saudis in the private sector. Thus, in order to motivate the private sector in Saudi Arabia to hire Saudi citizens, HRDF pays 30% of the salaries paid to Saudis working in the private sector in the first year of employment. Moreover, Hadaf supports Saudi entrepreneurs. Online Portal HRDF has launched an online portal to facilitate entrepreneurs. The portal provides an interactive support to entrepreneurs and small businesses throughout the phases of project establishment. This includes giving them ideas, financial solutions and information to help them making decisions. Saudi Women Empowerment Program The program aims at encouraging Saudi women to enter the workforce in Saudi Ar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Investment Fund
The Public Investment Fund (PIF; ar, links=no, صندوق الإستثمارات العامة) is the sovereign wealth fund of Saudi Arabia. It is among the largest sovereign wealth funds in the world with total estimated assets of $620 billion (£492 billion). It was created in 1971 for the purpose of investing funds on behalf of the government of Saudi Arabia. The wealth fund has been controlled by Crown Prince Mohammed bin Salman, Saudi Arabia’s ''de facto'' ruler since 2015. It has been characterized as among the least transparent sovereign wealth funds in the world. In 2016, the ''Wall Street Journal'' noted that none of the fund's investments were named. The organization's activities have stirred controversy due to its relationship with the Saudi Arabian government and its human rights record. The fund's domestic investments tend to go to firms owned by elites with long-standing personal connections to the Saudi state. Some of PIF's assets were transferred to the orga ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
