Saudi Fund for Development
Saudi Fund for Development
The most important channel for Saudi Arabian aid is the Saudi Fund for Development which was established by Royal Decree in 1974 and began operations in 1975. At the time of its inception, the Fund’s capital amounted to SR 10 billion; however, because of the developing countries’ increasing need for assistance in order to implement development projects, the Fund’s capital has been augmented twice, and now totals SR 25 billion.

Underlying the Fund and its objectives is the conviction that, by assisting less fortunate countries to develop with grants and soft loans, the Kingdom is helping to realize the ideal of a global community in which self-interest co-incides, and is seen to coincide, with the interests of the planet as a whole.

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