By Arab News

TDF Expands Tourism Financing Through Six New Agreements and an MoU

Saudi Arabia’s Tourism Development Fund (TDF) has announced six major agreements and one memorandum of understanding, unlocking over SR4 billion ($1.07 billion) in strategic partnerships. The announcement was made at the Development Finance Conference – Momentum 2025, organized by the National Development Fund.

The new deals aim to accelerate the Kingdom’s tourism expansion through enhanced financing solutions under TDF’s flagship Tourism Empowerment Programs, which target micro, small, and medium enterprises (MSMEs).

High-Level Participation Highlights National Commitment

The agreements were formalized in the presence of:

• Ahmed Al-Khateeb, Minister of Tourism and TDF Board Chairman
• Stephen Groff, Governor of the National Development Fund
• Qusai bin Abdullah Al-Fakhri, TDF CEO
• Senior executives from banks and financial institutions

These partnerships further strengthen TDF’s existing collaborations with financial institutions supporting the Kingdom’s tourism growth.

Tourism Empowerment Programs Deliver SR3 Billion and 74,000 Jobs

Since launch, the Tourism Empowerment Programs have provided nearly SR3 billion in financing, helping create more than 74,000 jobs nationwide.

CEO Al-Fakhri emphasized the rapid expansion of the programs, noting:

• Beneficiaries have increased tenfold in a year
• Financing volumes have more than doubled
• TDF is building an integrated ecosystem to enable sustainable tourism investment

New SR700 Million Initiative with Kafala Program

Building on a successful partnership with the Kafala Program, which previously guaranteed over SR2 billion and supported more than 2,000 enterprises, TDF announced a new joint initiative worth SR700 million.

The scheme will channel financing through 45+ financial institutions, enabling broader nationwide access to tourism project funding.

SR300 Million Financing Agreement with Arab National Bank

TDF has also signed a new SR300 million financing deal with Arab National Bank, expanding on a similar agreement last year that benefited 249 tourism enterprises across the Kingdom.

Four New Agreements Under Funded Companies Program

TDF finalized four additional agreements totaling SR200 million with:

• Al-Jabr Finance
• Al-Tayseer Arabian Co.
• Al-Raedah Finance
• Tamweel Al-Oula

These agreements extend previous collaborations worth SR250 million, offering tailored financing support to diverse tourism businesses.

MoU with SME Bank to Strengthen Development Finance

TDF and the Small and Medium Enterprises Bank signed an MoU to develop a joint model for developmental financing, improving MSME access to both financial and non-financial support.

To date, TDF enablement initiatives have benefited over 10,000 enterprises, boosting innovation and supporting Saudi Vision 2030.

Strengthening the Kingdom’s Tourism Investment Landscape

As a national enabler of tourism development, TDF plays a central role in expanding the investment base, empowering private-sector participation, and driving economic growth. This mission aligns with the broader framework of the National Development Fund, which unifies development financing across Saudi Arabia to support sustained national progress.

Original Article:

Arab News. (2025). Saudi Tourism Development Fund seals $1.07bn partnerships at Momentum 2025. Arab News. https://www.arabnews.com/node/2625694/business-economy