Saudi financial institutions extended up to the end of the fiscal year 1424-1425AH, more than SR 300 billion, contributing positively to the swift development witnessed by the Kingdom of Saudi Arabia in various domains. The support extended by the government to citizens included assistance, and soft interest-free loans through the financing institutions like the Agricultural Bank, the Credit Bank, the Real Estate Development Bank, the Industrial Development Fund and the General Investments Fund. The real estate fund was established in 1395AH with a capital of SR 250 million for the development of cities and villages. Up to the end of the fiscal year 1424-1425Ah, the Real Estate Fund extended about SR 127 billion worth of loans. These loans led to the implementation of projects of more than 575,000 housing units in various parts of the Kingdom. On the other hand, the Fund extended SR5,180,389,895 worth of investment loans. --MORE 1020 Local Time 0720 GMT
