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Since the early 1970s developing countries have tried to increase economic cooperation amongst themselves, particularly between Arab and African countries. One of the channels of cooperation which Arab countries have created to aid African states is the National Development Funds, such as the Saudi Fund for Development (SFD). These funds established in 1974und for Development (SFD). These funds, established in 1974, had its capital increased to twenty five billion Saudi riyals in 1981 and are performing a major role in the development of many African countries. Between 1974 and 1983 SFD offered 10,030,90 billion Saudi riyals in the form of soft term loans to support 157 projects in 37 countries. These activities have shown that SFD is an effective instrument for cooperation among developing countries, and between Saudi Arabia in particular.