2003 News Story

Saudi Development Fund issues 29th annual report

The Saudi Development Fund (SDF) has issued its 29th annual report, for the fiscal year 1422/1423 (2002). During FY 2002, SDF signed 14 loan agreements with a total sum of SR 1,271 million [U.S. $ 339 million]. SDF focused on cooperating with the concerned authorities for containment of poverty in developing countries, and gave attention to joint financing with other Arab and Muslim development institutions. In addition, SDF made significant progress in guaranteeing exports, a field that aims at boosting the private sector, and through its program of financing exports, SDF financed 14 operations and signed agreements worth SR 139 million [$ 37 million].