SFD And FIFA Collaborate To Provide $1 Billion For Sports Infrastructure In Developing Nations

The Saudi Fund for Development (SFD) and FIFA have agreed to provide up to $1 billion in concessional loans. This funding will be used to build and upgrade sports stadiums and related infrastructure in developing countries. The initiative aims to harness sports as a tool for economic and social progress.

FIFA President Gianni Infantino highlighted the importance of this collaboration with SFD. "This memorandum of understanding with the SFD is a crucial step in ensuring our FIFA Member Associations have the facilities to make football truly global," he stated. The focus is on enhancing sports facilities to promote football worldwide.

The program will prioritise developing nations and their FIFA Member Associations (MAs). It aims to help these countries invest in facilities that foster growth, create opportunities, and encourage participation at all levels. This aligns with broader efforts to advance social and economic development through sports.

Sultan bin Abdulrahman Al-Marshad, CEO of the SFD, emphasised the transformative power of sport beyond mere competition. He stated, "Through concessional financing, we are helping countries build the infrastructure they need to unlock potential, empower young people, and strengthen communities for generations to come."

For SFD, this partnership marks a significant step in prioritising sports infrastructure within its development agenda. The sector's unique ability to create jobs, boost tourism, improve health, and enhance community bonds is recognised as vital for sustainable growth.

With over 50 years of experience, SFD has supported more than 800 development projects worth over $22 billion across 100 countries. This new initiative continues its mission of driving sustainable growth through development financing and projects that improve lives and foster lasting prosperity.

With inputs from SPA