The Tourism Development Fund (TDF), Saudi Arabia’s national tourism enabler, has announced 6 agreements and one Memorandum of Understanding “MoU” with government and private-sector partners, unlocking partnerships with a combined impact exceeding SAR 4 billion ($1 billion). 

The agreements and MoU aim to expand access to financing through TDF’s “Tourism Empowerment Programs”, which support micro, small, and medium-sized enterprises (MSMEs). 

The announcements were made during the Momentum 2025, organized by the National Development Fund, in the presence of Ahmed Al-Khateeb, Minister of Tourism and Chairman of the Tourism Development Fund, Dr. Stephen Groff, Member of the Board, Governor of the National Development Fund, and Qusai Al-Fakhri, CEO of Tourism Development Fund, alongside CEOs and leaders of banks and finance companies.

The agreements build on TDF’s existing partnerships with financing providers and reflect the Fund’s continued commitment to expanding development finance for the tourism sector. 

Since launch, TDF’s Tourism Empowerment Programs have delivered nearly SAR 3 billion in financing, which led to create more than 74,000 jobs nationwide, underscoring the catalytic role of financial partnerships in strengthening tourism destinations and local economies.

Al-Fakhri said: “The exceptional growth of our Tourism Empowerment Programs reflects the strength of our strategy to enable and sustain tourism enterprises. Annual beneficiaries have grown nearly tenfold, and financing volumes have more than doubled compared with previous years, demonstrating our expanding economic impact. At TDF, our role extends beyond financing, we are building a fully integrated empowerment ecosystem that unlocks investment opportunities, strengthens development financing, and deepens private-sector participation across all regions of Saudi Arabia.”

As part of MSMEs empowerment, TDF expanded its collaboration with the Kafalah Program, following the success of previous guarantees exceeding SAR 2 billion, which enabled more than 2,000 tourism enterprises. 

The new partnership introduces a programme with an estimated market value of SAR 700 million, in cooperation with over 45 financing entities, reinforcing Kafalah’s strategic role in scaling tourism projects nationwide.

TDF also announced a SAR 300 million financing agreement with Arab National Bank, enhancing tourism enterprises’ access to growth capital. 

This expands on a similar agreement signed with the same value last year, and which supported 249 enterprises across Saudi Arabia within one year.

Additionally, TDF announced four new agreements worth SAR 200 million under its NBFI program with Al-Jabr Finance Company, Tayseer Arabia Company, AlRaedah Finance, and Tamweel Aloula. 

These agreements extend prior cooperation valued at SAR 250 million, broadening access to tailored financing solutions for tourism enterprises across all regions.

To further strengthen MSME support, TDF also announced a Memorandum of Understanding with the Small and Medium Enterprises Bank to develop a dedicated development financing model that enhances access to sustainable financial and non-financial solutions.

This step reflects the Fund’s commitment to strengthening the role of MSMEs, with over 10,000 businesses having benefited from the Fund’s to date. 

This helps increasing the contribution of these enterprises to the national economy, supporting innovation, and expanding the scope of services offered, in line with the objectives of Saudi Vision 2030.

TDF plays a role as the national enabler for development financing and sector growth, supporting business expansion and widening the investment base in tourism. 

This role is further highlighted within the ecosystem of the National Development Fund, which operates as a unified platform for development funds and banks and serves as a strategic arm leading the national financing system to stimulate and sustain the economy through role integration and strengthened public–private partnerships.

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