Saudi Arabia’s King Salman has created a new organizational body to centralize and consolidate control and management of its economic development funds, called the National Development Fund (NDF), under Crown Prince Mohammed bin Salman.
The NDF will “link the Saudi Fund for Development, the Saudi Industrial Development Fund, the Agricultural Development Fund, the Social Development Bank, the Human Resources Development Fund and any development fund or bank ordered by” Crown Prince Mohammed bin Salman, according to a Royal Decree issued Wednesday as reported by the Saudi Gazette.
Previously, control of these myriad funds has been spread between various ministries and agencies. With the new decree, they will fall under one umbrella organization in the NDF. The NDF will have a board of “at least seven” appointed by the Crown Prince, and this board will report directly to the Crown Prince.
The Royal Decree also appointed a new Minister of Transportation. Nabeel Al-Amudi replaces Sulaiman Al-Hamdan, who has been named as the minister for civil service.
Al-Amudi has experience in industry and transportation. The new Minister was head of the Saudi Ports Authority and held various roles at Saudi Aramco.
The creation of the NDF and promotion of Al-Amudi was part of a “mini cabinet shuffle” that included other changes to the government. More changes via the Saudi Gazette:
“Sulaiman Mashat was appointed deputy minister of Haj and Umrah with excellent rank, Saad Almaimooni was appointed as governor of Taif with excellent rank, Isam Bin Hamad Bin Ali Almubarak was appointed as governor of real estate general commission with excellent rank.
“Majid Bin Ibrahim Alfayadh was named general executive supervisor of the general corporation of King Faisal Specialist Hospital and Research Center with excellent rank, Dr. Falah Bin Faraj Bin Ali Alsobaie’i was appointed as director of Najran University with excellent rank, Dr. Abdullah Bin Yahia Bin Alhosain Qasim was named director of Albaha University with excellent rank and Dr. Abdullah Bin Mifrih Bin Nahar
“Alrooqi was appointed as director of Tabuk University with excellent rank.”