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NDF Appoints Faisal Al Ibrahim as President of National Fund

Expression of Gratitude, Goals

The Board of Directors of the National Development Fund, chaired by Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister has issued a decision to appoint Faisal bin Fadel Al Ibrahim as Chairman of the Board of Directors of the National Infrastructure Fund.

Expression of Gratitude, Goals

On this occasion, His Excellency Al lbrahim expressed his gratitude and appreciation to the Crown Prince. He acknowledged the trust and support for economic transformation in promising sectors. His focus is on enhancing efficiency and effectiveness in national development institutions.

He aims to maximize developmental impact, sustain financing and investment practices, and contribute to Saudi Vision 2030 goals.

Focus of National Infrastructure Fund

The National Infrastructure Fund focuses on developmental financing for infrastructure projects in the Kingdom. It aims to stimulate the economy by contributing to the accelerated implementation of strategic infrastructure projects. These projects are designed to develop targeted economic sectors and improve infrastructure efficiency.

Al Ibrahim’s Emphasis on Saudi Vision 2030

Al Ibrahim emphasized the Fund’s role in achieving Saudi Vision 2030 goals. He discussed increasing the private sector’s contribution to the GDP to 65%. He highlighted the Fund’s role in the Saudi Green Initiative, supporting projects aiming for net-zero emissions by 2060.

Direction Towards Private Sector Partnership

Al Ibrahim¬†pointed out the Fund’s approach towards establishing partnerships with the private sector. The Fund aims to encourage local and international investors to participate and invest. This involves a package of innovative financial products and solutions. The goal is to align with the Kingdom’s ambition to be a leading investment destination.

Statement on Developmental Financing Solutions

His Excellency stated, “The Fund will provide developmental financing solutions that will contribute to accelerating the implementation of productivity-enhancing infrastructure projects.”

This is seen as a fundamental factor in diversifying the economy, increasing the private sector’s role, attracting international investments and expertise, and creating new job opportunities.

 

Related Topics :

Saudi Arabia to support the tourism sector through an international fund

Saudi Fund to discuss international cooperation with the Asian Development Bank

NDF Participates in Financing of SAR 8.3 billion Renewable Energy Project

 

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