Established in 1974 by the Saudi government, this fund ranks as the top Gulf and Arab donor, accounting for almost two-thirds of total Arab aid. The Saudi Fund has no geographical exclusion and it deals directly with governments in the developing world to finance projects. The fund has contributed financing to 3,750 projects in 71 countries, consisting of 41 African countries, 25 Asian countries, and five countries in other parts of the world. It also administers loans and grants extended by the Saudi government to developing countries.