Saudi government lent $700mln to national development funds in 2020

Total assets held by the funds amounted to $86.12bln

Saudi riyal. Image used for illustrative purpose.

Saudi riyal. Image used for illustrative purpose.

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RIYADH: 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.

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