Managing Director of the Saudi Fund for Development (SFD)Yousef Al-Bassam has highlighted the support being extended by the government to the Fund, noting that this support has enabled the SFD to shoulder its responsibility at the international arena. Speaking on the occasion of the 5th anniversary of the ascendance of the Custodian of the Two Holy Mosques, King Abdullah Ibn Abdul-Aziz to the throne, he said the Kingdom with the steady growth of its political and economic weightage, has earned a great respect and the Fund has become a major channel for boosting bilateral relations and contribution to the economic and social development in the fraternal and friendly developing countries. He noted that the Fund ever since the ascendance to the throne by King Abdullah five years ago up to end of the year 2009, extended in the form of soft loans more than SR5.750 billion. He said the Fund has extended more than SR 8.316 billion for boosting the Saudi exports and more than SR 4.225 billion as guarantee for the exports. Al-Bassam hailed the Kingdom's contribution to extending assistance to countries which face natural disasters or adverse impact of conflicts. "Thanks to Allah Almighty, the Kingdom has become a contributor to the capital of the World Bank, and the International Monetary Fund, he said, noting that the Kingdom's membership to G-20 Group will have a positive outcome.
