NDF Chief Announces SAR31.5 Billion Commitment to Saudi Green Hydrogen Project

Investment Details

NDF Governor Abdulaziz Al-Arifi said that the National Development Fund and the Saudi Industrial Development Fund, together with local and international financial institutions, have contributed to financing the green hydrogen project, with total investments amounting to SAR31.5 billion.

He made the announcement while speaking at the World Petroleum Congress in Riyadh on Wednesday.

Collaborative Financing Framework

Al-Arifi explained that 12 development funds and banks are working collectively under the umbrella of the NDF to enable projects, expand investment opportunities and develop national talent, thereby contributing to energy security and sustainability.

Value of Development Financing

He stressed that the worth of development financing is not gauged solely by the volume of investments it generates, but also by the opportunities it creates and its impact on people’s lives and the future of the economy.

Broader Economic Impact

Al-Arifi pointed out that the development financing system has played a pivotal role in enabling strategic investments, developing infrastructure, strengthening private sector participation, supporting development projects in developing countries, improving essential services and opening new horizons for economic growth.