RIYADH: Saudi National Development Fund to inject SR570 billion ($152 billion) in the Kingdom’s economy by 2030, Saudi Arabia’s Crown Prince Mohammed bin Salman said.
In a statement on Monday to mark the launch of the strategy for the fund, known as NDF, the Crown Prince said that it will contribute to tripling the share of non-oil GDP to SR605 billion over the same period.
NDF, through its funds and development banks, will increase the participation of the private sector in the GDP by three-folds by 2030, said the statement carried by Saudi Press Agency.
The fund was established by royal order in 2017, according to its website. It was mandated to advance the performance of development funds and banks as well as to empower development funds and banks to better fulfill development priorities and economic obligations related to the Kingdom’s Vision 2030.