In pursuit of achieving the highest standards of quality in the education sector in order to play its effective role in meeting the requirements of development and achieving scientific leadership, in line with the great capabilities available to it in increasing its capacity and strengthening its financial resources, and as a tributary to it in activating its civilizing role in serving the country in accordance with the Kingdom's vision 2030, and in line with the role of the fund and decreed in its basic system aimed at developing the knowledge economy and developing the base of higher education. His contributions came through his financial sources represented in the returns of using the facilities of the universities, and the diverse investment returns. The Higher Education Fund has continued its efforts to achieve the desired goals in financing the projects needed by the universities, where it has adopted a flexible strategy that ensures direct interaction and immediate response to financing the projects needed by each university, after meeting the necessary conditions and requirements for financing. Since its inception until the end of 2023, the Fund has been able to finance (618) vital projects, the common denominator of which is supporting Saudi universities and preparing them academically and scientifically to achieve the highest standards of quality and to keep pace with their counterparts in the G20 group, with total amounts of (3.147.716.612) riyals, for the following categories:
Category of supporting scientific and academic programs for universities
The Higher Education Fund has given its full attention to financing scientific and academic programs because of their importance in raising the level of academic and practical quality. The Fund has funded, since 2010 until the end of 2023, a total of (779,030,815) riyals, which contributed to the development of academic performance in universities.
Category of establishing new colleges and expanding existing colleges colleges
The category of establishing new colleges and expanding existing colleges was one of the Fund’s priorities because of the importance it represents in preparing colleges to keep pace with the tangible increase in the number of male and female students. Funding for this category from 2010 until the end of the year 2023 amounted to a total of (740,265,675) riyals.
Category of financing and purchasing equipment and providing laboratory requirements
The “Financing the Purchase of Equipment and Providing Laboratory Requirements” category came third, as its cost from 2010 until the end of 2023 amounted to a total of (266,065,100) riyals, as this financing contributed to raising the efficiency of the educational infrastructure.
Category of Funding for Programs, Centers, and Scientific Research
Fourthly, there is a category for funding programs, centers, and scientific research, with a total funding amounting to approximately (31,000,000) riyals, from the year 2010 until the end of the year 2023. This category plays a role in enhancing research infrastructure and supporting research programs.
Category providing other requirements
The Fund has adopted effective methods and a timely response to finance the various projects requested by universities, which facilitate the presentation of applied ideas, enrich the educational process, and enhance the educational and social care provided by universities. The Fund has financed the category of providing other requirements with a total of (325,561,683) riyals, from 2010 until the end of the year 2023.