The Deputy Governor of the National Development Fund in Saudi Arabia, Abdul Ilah Al-Nimr, confirmed in an interview with Al-Arabiya that the fund addresses the financing gaps to support the growth of the non-oil sectors in accordance with Vision 2030.
Al-Nimr added that the establishment of the fund since 2017 to act as a supervisory authority over its affiliated entities, which were initially development banks, and have now increased to 12 funds, explaining that the fund’s goal is Improving the performance, effectiveness and financial sustainability of the funds And the use of available resources to achieve the best economic return.
He stressed that one of the Fund’s objectives is to focus its strategy and its affiliated funds in order to achieve maximizing the comprehensive development impact in a manner that addresses the financing gaps, in line with the priorities of Vision 2030, including the growth of non-oil domestic product, and what sectors should be supported, including the tourism sector, the private sector, and support Import and Export.
He said that the entities that emerged reflect the fund’s focus on the priorities that aim to achieve the ambitions of Vision 2030, stressing that each fund has sufficient flexibility and capabilities that will give the possibility to implement development goals, in a manner that ensures improving performance, effectiveness and achieving sustainability for the work of these funds and to raise the return on its development, financial and economic financing.
He spoke of interest in the medium and small companies sector, which occupies an important dimension in achieving the hoped-for developmental impact of the Kingdom’s vision and its various projects.