NDF raises SAR 60B annually without need for additional govt financing: Governor

Stephen Groff, Governor of the National Development Fund (NDF)

Stephen Groff, Governor of the National Development Fund (NDF), said over the past seven years, the fund has mobilized resources exceeding SAR 60 billion annually to support the development ecosystem without the need for additional financing from the central government.

Groff added, at the Private Capital Conference 2025, that this achievement was made possible by pooling the capital of existing funds and centralizing treasury management under the umbrella of the NDF.

He noted that the fund plays a pivotal role in supporting Saudi Arabia’s economic transformation in line with Vision 2030 goals.

The NDF seeks to unify financing and development efforts across its affiliated funds to enhance spending efficiency and strengthen the private sector’s role in development.

The fund’s board of directors is chaired by Crown Prince Mohammed bin Salman, and includes 11 ministers representing key economic entities in the government, which enhances coordination and integration across various sectors, Groff said.

He pointed out that the NDF focuses on stimulating investment in non-oil sectors such as tourism, industry, and infrastructure, in addition to supporting entrepreneurs and SMEs through innovative financing and guarantee tools.

The Governor emphasized that the fund now measures its performance based on developmental impact, such as the number of jobs created, the volume of financing directed to the private sector, and the growth rate of non-oil sector contributions.

The ultimate goal is to achieve comprehensive and sustainable development aligned with Vision 2030 objectives, he noted.