The Saudi Fund for Development (SFD) has financed as many as 16 developmental projects in a number of Asian and African developing countries with a total amount of SR 1,168 million. The SFD also jointly funded nine other projects in 9 developing countries with an amount of SR 752 million, according to an annual SFD report for the year 2008. Since its inception in 1975, the SFD contributed SR 28, 896 million in financing 430 economic and developmental projects and programs in 73 countries.