During almost two years of undergoing the worst health crisis in more than a century, the world and its constituent nations have applied all the measures at their disposal, and invented some new ones, to fight off the virus. In doing so, the long-term health of both people and economies were the ultimate objectives, and careful balances needed to be struck. 

It may be premature to think we have reached the point where the crisis is over. People are still contracting coronavirus, people are still dying and the virus itself has shown the ability to mutate and continues to be a threat. It will probably never be wholly eradicated. Nevertheless, the measures that the world learned to adopt — lockdowns, social distancing, remote working, masks, hand washing — have controlled its spread; and, of course, aided by cutting-edge technology and the best scientific brains available, pharmaceutical companies, governments and scientists have combined to produce highly effective vaccines to provide a further line of defense.

None of this could have happened without collaboration, at all levels, and both nationally and internationally: Governmental, federal, state, municipal, academic, industrial and social. For sure there are examples of countries putting their own interests ahead of others, and no one should be surprised by that. In a number of countries, federal and state policies have diverged. Many businesses have profited from remote working, home delivery and the need for regular testing and sanitization, some legitimately, others less so. In the main, though, governments, institutions, companies and people have found common cause in working together, devising policies and solutions, implementing them and following them. Even in the most liberal democracies, examples of civil disobedience and discord have been very much in the minority.

It is, therefore, relevant at this time to acknowledge how Saudi Arabia’s various organizations have worked together to combat the pandemic, pooling their resources and expertise to deliver financial, logistical and social solutions to minimize COVID’s impact on the country’s people and economy. In particular, the existence of an organization such as the National Development Fund showed the importance of having in place a countercyclical instrument to manage the equilibrium of the economy, a method adopted by most of the world’s developed economies.

The coronavirus struck just at a time when Saudi Arabia was redoubling its efforts to diversify its economy and to encourage the private sector to become its cornerstone, key components of Saudi Vision 2030; but the pandemic meant that focus on those objectives inevitably became blurred by more immediate priorities. However, the measures and systems that were adopted and implemented offer worthwhile lessons on how to build a successful economy with a foundation for long-term growth.

Both public and private sector institutions were instrumental in the battle against COVID-19. Highly innovative new solutions such as the Tawakkalna and Sehatty applications required input from all quarters for their design, rollout and use in monitoring and controlling the virus, as well as running full scale testing and vaccination programs. The private sector collaborated effectively with government and health authorities in building the technological and physical infrastructure to enable them to be effective — and in a remarkably quick timescale. Both applications have contributed to 70 percent of the population having received at least one dose of a vaccine, and in infections being kept largely under control. Nor should the buy-in from companies and their employees be ignored in contributing to the high rate of vaccine take up, as well as in observing testing, social distancing and remote working rules which helped both reduce the impact of the virus as well as ensure that the economy continued to function.

We at the National Development Fund also played our part, supporting areas of the economy that were worst hit by the pandemic. Our mandate is to support, grow and diversify the economy of Saudi Arabia and increase its prosperity and standards of living by overseeing the funding of commercial enterprise and critical infrastructure. In the context of a pandemic, this mandate comes sharply into focus, because we also act as a countercyclical instrument to support the economy and maintain stability at all times.

So, during the pandemic, we oversaw the funding of more than SR2 billion ($533 million) for the import of agricultural products, SR4.5 billion for those unable to work, as well as approving SR2 billion of lending for the small and medium enterprises, the lifeblood of our economic future, and a similar amount of funding for the hard-hit aviation sector. In total, NDF contributed no less than SR26 billion to the national cause.

The fund was proud to collaborate with both the funding entities which we supervise and with all the relevant organizations in government and the private sector, both those who benefited and those who were involved in related activities aimed at combating the pandemic and also laying the ground for Saudi Arabia’s long-term economic future. Collaboration across all organizations and people responsible for the country’s health and well-being was key in the fight against COVID-19. It will be just as important in the campaign to build a robust, sustainable and diversified economy for the long term.

• Abdulelah Alnamer is deputy governor, funds planning, supervision, and development at Saudi Arabia’s National Development Fund.