TDF Participates in 'Momentum 2025 Development Finance Conference'
The Tourism Development Fund (TDF), the national enabler of the tourism sector, concluded its participation in Development Finance Conference MOMENTUM 2025, organized by the National Development Fund (NDF), by announcing six agreements and one memorandum of understanding with public- and private-sector partners, with an impact exceeding SAR4 billion.
The agreements aim to enhance financing solutions through TDF's Tourism Empowerment Program offered to micro, small, and medium enterprises, reflecting the fund’s pivotal role in enabling sector growth and expanding financing solutions that support tourism projects across the Kingdom. The agreements and partnerships also reflect the outcomes of the conference, which strengthens the Kingdom’s position as a global platform for development finance and for accelerating the growth of non-oil sectors, foremost among them tourism.
The announcement of the agreements comes as an extension of previous agreements with financing-solution partners to support the growth of the tourism sector in the Kingdom, and within the fund’s commitment to expanding developmental financing for the sector. The Tourism Empowerment Program has witnessed remarkable growth in financing volume, reaching nearly SAR3 billion since its inception, contributing to the creation of more than 74,000 job opportunities across the Kingdom and underscoring the vital role of financing partnerships in supporting the tourism economy and enabling business growth in tourism destinations.
During the conference’s first-day sessions, Minister of Tourism and TDF Chairman Ahmed Al-Khateeb participated in a panel discussion titled “From Infrastructure to Opportunity: Saudi Arabia's Role in Global Inclusive Development.” He emphasized that tourism is one of the core objectives of Saudi Vision 2030, and that the TDF works to highlight the sector’s economic and social value by linking public-sector opportunities with private-sector investments.
On the third day of the conference, TDF Chief Executive Officer Qusai Al-Fakhri participated in a session titled “The Role of Development Finance Institutions and Their Ecosystem: Achieving Development Through Financial Enablement,” alongside the NDF governor and a group of executives of funds and banks affiliated with NDF.
“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,” Al-Fakhri said during the session. “Since the fund’s establishment, project value has reached SAR34 billion, and we have attracted nearly SAR2 billion in foreign direct investment.”
“We renewed our track record of success with financing partners through the announcement of agreements at this conference, with an impact exceeding SAR4 billion. These figures and other achievements reflect our role as the national enabler of the tourism sector, aspiring to strengthen the Kingdom’s position and its destinations on the global map,” the TDF chief said.
Al-Fakhri also announced the issuance of the fund’s 2024 sustainability report, which highlights the fund’s commitment journey by aligning its operations with environmental, social, and governance standards; implementing 23 initiatives, with most completed. This step further reinforces sustainable transformation, enhances the efficiency of the tourism sector, and improves quality of life across the Kingdom.
