Arab News, Saturday, Sep 11, 2021 | Safar 4, 1443
Saudi government lent $700m to national development funds in 2020
Saudi Arabia:
The Saudi government extended
a further SR2.63 billion ($701.2 million) to institutions including the Real
Estate Development Fund (REDF), last year, Okaz newspaper reported, citing
publicly available information.
Total assets held by these entities amounted to
SR322.98 billion, made up of SR237.39 billion of loans, SR48.19 billion of
investments, SR7.62 billion of deposits with local banks, cash of SR30.68
billion, and fixed assets of SR695 million.
REDF topped the list of outstanding loans it has
made with SR155.02 billion, followed by the Saudi Industrial Development Fund
with SR48.09 billion and the Social Development Bank with SR25.79 billion. Loans
by the Agricultural Development Fund were SR8.48 billion.