NDF inks SAR 3B credit facilities with SNB

08:01 PM (Mecca time) Argaam
Logo ofThe National Development Fund (NDF)

Logo of The National Development Fund (NDF)

The National Development Fund (NDF) signed today, Sept. 28, a credit facility agreement with the Saudi National Bank (SNB) at a value of SAR 3 billion.

 

The agreement aims to bolster support for development projects in the Kingdom, empower its 12 affiliated development funds and banks to achieve their objectives, boost economic growth, and accelerate the pace of national transformation, state-run news agency SPA reported.

 

Earlier this year, NDF signed four agreements with commercial banks Al Rajhi Bank, Arab National Bank (ANB), Riyad Bank, and Saudi Awwal Bank (SAB) at a total value of SAR 10.5 billion.

 

Today’s agreement brings the total value of credit facilities signed by NDF year-to-date to SAR 13.5 billion, reflecting the fund’s pioneering role as a key partner in driving comprehensive and sustainable development.

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