The head of local content and private sector development unit at the Council of Economic and Development Affairs, Fahad Al-Sukait, was cited by Al Riyadh newspaper as saying Saudi Arabia will fund all the private sector stimulus initiatives by the end of this year. He said payments will be disbursed to these initiatives within the next 45 days. He explained that a permanent team was formed to review and accelerate initiatives that had a late launch. The private sector stimulus plan includes two phases: the first is worth SAR40bn, while the second is worth SAR72bn. Both phases will be implemented over four years.