JEDDAH, 4 July 2005 — The Saudi Development Fund (SDF) financed twelve development projects in ten developing countries in 2004 for SR716.7 million, according to its annual report. This brings the total of its contributions since it was founded in 1975 to the end of 2004 to SR24,807.67 million for 369 projects in 68 developing countries. Dr. Ibrahim Al-Assaf, minister of finance and the chairman of SDF, said in the report that 241 loans were given by the fund in the last period which amounted to SR16,000 million and were a joint financing with other national and regional development institutions.