TDF Announces SAR4 Billion In Agreements At Momentum 2025 Development Finance Conference

The Tourism Development Fund (TDF) recently concluded its participation in the Development Finance Conference, MOMENTUM 2025, organised by the National Development Fund (NDF). During the event, TDF announced six agreements and a memorandum of understanding with both public and private partners. These collaborations are expected to have an impact exceeding SAR4 billion, aiming to boost financing solutions for micro, small, and medium enterprises within the tourism sector.

These agreements reflect TDF's commitment to expanding developmental financing for tourism projects across Saudi Arabia. The partnerships also highlight the outcomes of the conference, which aims to position the Kingdom as a global hub for development finance and accelerate growth in non-oil sectors, particularly tourism. The Tourism Empowerment Program has seen significant growth in financing volume, reaching nearly SAR3 billion since its inception.

The Tourism Empowerment Program has contributed to creating over 74,000 jobs across Saudi Arabia. This underscores the importance of financing partnerships in supporting the tourism economy and fostering business growth in tourism destinations. The announcement of these agreements extends previous collaborations with financing-solution partners to further support the sector's growth.

During the first day of MOMENTUM 2025, Ahmed Al-Khateeb, Minister of Tourism and TDF Chairman, participated in a panel discussion titled "From Infrastructure to Opportunity: Saudi Arabia's Role in Global Inclusive Development." He highlighted that tourism is a core objective of Saudi Vision 2030. The TDF aims to showcase the sector’s economic and social value by linking public-sector opportunities with private-sector investments.

On the third day of the conference, TDF CEO Qusai Al-Fakhri joined a session discussing "The Role of Development Finance Institutions and Their Ecosystem: Achieving Development Through Financial Enablement." Alongside NDF executives and other financial leaders, Al-Fakhri emphasised TDF's dedication to supporting development finance ecosystems and expanding opportunities for investors and entrepreneurs.

Al-Fakhri stated, "Our participation in the Development Finance Conference reflects the fund’s commitment to supporting the development finance ecosystem and expanding opportunities for investors and entrepreneurs." He noted that since TDF's establishment, project values have reached SAR34 billion, attracting nearly SAR2 billion in foreign direct investment.

Future Prospects for Saudi Tourism

Al-Fakhri also announced TDF's 2024 sustainability report release. This report highlights their commitment journey by aligning operations with environmental, social, and governance standards. It includes implementing 23 initiatives aimed at sustainable transformation. These efforts enhance tourism sector efficiency and improve quality of life across Saudi Arabia.

He added that recent agreements renewed their success with financing partners at MOMENTUM 2025. With an impact exceeding SAR4 billion, these achievements reinforce their role as a national enabler for tourism. They aspire to strengthen Saudi Arabia’s position on the global map through these initiatives.

With inputs from SPA