Saudi Arabia’s National Development Fund (NDF), together with its affiliated sector funds and banks, has signed 45 memoranda of understanding and agreements valued at a combined SAR 6 billion ($1.6 billion), marking a major push to advance sustainable development across the Kingdom.
The agreements were formalised during the MOMENTUM 2025 Development Finance Conference, held recently in Riyadh. They bring together leading local, regional and international partners, with a focus on accelerating investment and opening up new opportunities in priority areas including small and medium enterprises (SMEs), tourism, infrastructure and sustainable development.
At an institutional level, the NDF signed two strategic agreements with global technology and professional services firms. These partnerships are designed to speed up the adoption of artificial intelligence, data and digital solutions across the development finance ecosystem. According to the NDF, the aim is to strengthen institutional capabilities, support innovation in financial products and services, and improve the overall impact and effectiveness of development financing in Saudi Arabia.
Several sector-specific funds under the NDF umbrella also announced new partnerships. The National Infrastructure Fund signed a memorandum of understanding focused on aligning development efforts to support small enterprises, including the joint design of a developmental financing model tailored to SME needs.
The SME Bank signed 19 MoUs and cooperation agreements as part of efforts to develop the financing ecosystem and improve coordination between public and private sector stakeholders. These agreements are intended to expand access to finance and strengthen integration across the sector.
In the industrial space, the Saudi Industrial Development Fund signed a cooperation agreement with Saudi Arabia Railways (SAR). The partnership will explore opportunities to support the industrial sector, including the development of the railway industry, while also helping investors localise goods and services to increase local content.
Tourism was another key focus at the conference. The Tourism Development Fund signed six agreements with government bodies and private-sector partners, expanding its financing portfolio. The agreements aim to improve access to funding through the Fund’s Tourism Enablement Programs, which are dedicated to micro, small and medium-sized enterprises operating in the tourism sector.
The Cultural Development Fund also announced progress, signing five credit facility agreements under its Cultural Financing Program to support a range of cultural projects across the Kingdom.
In support of workforce development, the Human Resources Development Fund signed three agreements aimed at empowering more than 2,000 job seekers across multiple sectors. Separately, the Events Investment Fund entered into a partnership with Legends Global, with the goal of strengthening Saudi Arabia’s events sector by drawing on international experience in hosting major global events.
Organisers said the agreements signed at MOMENTUM 2025 represent a meaningful step in Saudi Arabia’s efforts to build a more diversified, inclusive and sustainable economy. By aligning public and private capital with national priorities spanning infrastructure, SMEs, human capital, culture and green growth, the partnerships are expected to help close financing gaps, reduce risk on strategic projects and create long-term value for citizens, businesses and communities, while also contributing to global sustainable development goals.
