Sovereign Funds
Saudi Fund for Development
Saudi Arabia · 1974 · Kingdom of Saudi Arabia
The Saudi Fund for Development says on its website that it was founded by Royal Decree No. M/48 of 1 September 1974 and began operations on 1 March 1975. It says its main objective is to take part in financing development projects in developing countries, through loans, technical aid and institutional support, and that its capital started at SAR 10 billion and was raised in three phases to SAR 31 billion. The website describes a ten-member board and a chief executive. Its FY2023 annual report says cumulative loans to the end of 2023 totalled SAR 76.95 billion, and the Saudi Press Agency reported on 20 August 2025 that the fund signed 17 loan agreements in 13 countries worth SAR 3.70 billion in 2024. It is a development institution, not a sovereign wealth fund. The FY2023 report is the latest annual report INXEN found on the site.
Mandate: A Saudi development institution that finances development projects in developing countries through loans, technical aid and institutional support, according to its website.
Key facts
No verified figure held yet.
Ownership and relationships
- Chairman of the Board:Ahmed bin Aqeel Al-KhateebSaudi Fund for Development — website (home and About pages) · read on 22 Oct 2026 ↗
- Chief Executive Officer (FY2023 report):Sultan bin Abdulrahman Al-MarshadSaudi Fund for Development — Annual Report FY2023 · read on 22 Oct 2026 ↗
Key people
- Ahmed bin Aqeel Al-Khateeb · Chairman of the Board, Saudi Fund for Development
- Sultan bin Abdulrahman Al-Marshad · Chief Executive Officer, Saudi Fund for Development (as named in the FY2023 report)