The Annual report of The Saudi Fund for Development (SFD) showed that it financed 16 development projects in 12 Asian developing countries with an amount SR 1209.5 Million in 2006, according to Minister of Finance Dr Ibrahim Al-Assaf, who is also Chairman of the Board of Directors of SFD. As part of the SFD message to support development in beneficiary-countries, the financing for projects was allocated to such projects which have positive impact for the poor in beneficiary-countries, thus the financing was distributed among sectors which have high priorities in fighting poverty. "Out of this amount, 47.26% was allocated to transport and telecommunication sectors; 40% assigned for health, education and urban development while the remaining percentage was for agriculture and energy, Al-Assaf said in the foreword of the report. As regards the Saudi Export Program (SEP) for Saudi non-oil products, SFD inked 15 financing agreements amounting SR1147 million to fund exporting national non-oil products to Arab countries in addition to SR 1725 million for other national Saudi exports for other countries. Al-Assaf pointed out that the activities of Export Credit Insurance Policies started in 2003, which surged to 14 policies this year totaling SR 1589 Million. SFD reiterated that it will continue to carry on its message with determination and perseverance to support the economic development in Saudi Arabia and contribute to implementation of the Saudi Government 's Policy to support developing countries.
