Saudi National Development Fund NDF announced the formation of the National Infrastructure Fund on Monday, which was approved by the Council of Ministers as one of its development funds and banks.
NDF stated in a statement that it will help the Kingdom achieve its Vision 2030 goals by fostering the development of infrastructure projects in the Kingdom and allowing the private sector to invest in them.
This will be through providing innovative financing solutions that contribute to enhancing the attractiveness of investment opportunities for these projects; According to
NDF added that National Infrastructure Fund intends to support projects with a total value of 200 billion riyals over the next ten years.
Muhammad bin Mazyad Al-Tuwaijri, Vice Chairman of the NDF Board of Directors, noted that this measure will help to assist infrastructure projects in critical areas like transportation, water, electricity, and health.
He confirmed that it will reflect positively on the development of the national economy and enhance the quality of life of the individual and society.
The fund will work in tandem with the National Center for Privatization to finance infrastructure projects that will be privatized or offered through public-private partnerships, according to the NDF.