SAUDI FUND FOR DEVELOPMENT (SFD)
P.O. Box 50483 Telephone: (1)464-0292 Riyadh 11523 Facsimile: (1)464-7450 Saudi Arabia E-mail: email@example.com Internet: www.sfd.gov.sa Vice Chairman and Managing Director: ... H.E.Eng. Yousef I. AL-BASSAM
LANGUAGES: Arabic (official language), English, French (working languages)
ESTABLISHMENT AND FUNCTIONS
The basic objective of the Saudi Fund for Development (SFD), established by the Kingdom of Saudi Arabia in 1974, is to participate in the financing of development projects in developing countries through the provision of soft loans with an emphasis on projects that promote the social and economic well-being in low income countries. The Fund is also entrusted with the task of financing and insuring of Saudi Non-Oil Exports.
SFD's assistance is not tied to procurement and is without geographic and sectorial limitations. It works directly with governments and projects selected for financing must be priority projects which fit within the country's overall development strategy.
SFD has a legal entity with autonomous financial status. It is governed by its charter and is administered by a Board of Directors chaired by the Minister of Finance and National Economy. The Board of Directors is the supreme authority that administers the Fund's affairs.
The Vice Chairman and Managing Director assumes the executive authority of the Fund and is responsible for implementing the Board of Director's decisions.
The Fund consists of the following departments: Technical; Treasury; Loan; Research and Economic Studies; Legal; Public Relations; General Administration; and Saudi Export Program.
The Charter of the Saudi Fund for Development; General Conditions Applicable to Loan Agreements; Procedures for Withdrawal of the Proceeds of the SFD Loans; Guidelines for the Borrower on Procedures for Withdrawal of the Proceeds of SFD Loans; Annual Report; Brochures
UPDATED: December 2003