Saudi Arabia’s Tourism Development Fund (TDF) has announced six new agreements and one Memorandum of Understanding (MoU) with public- and private-sector entities, unlocking partnerships worth more than SAR 4 billion ($1 billion). The commitments are intended to widen access to financing for micro, small and medium-sized enterprises (MSMEs) through the Fund’s “Tourism Empowerment Programs”.
The agreements were unveiled at Momentum 2025, hosted by the National Development Fund, and attended by Ahmed Al-Khateeb, Minister of Tourism and Chairman of TDF; Dr. Stephen Groff, Member of the Board and Governor of the National Development Fund; and Qusai Al-Fakhri, CEO of TDF, alongside senior leaders from banks and finance firms.
TDF said the partnerships build on its existing relationships with financial institutions and demonstrate its continued commitment to expanding development finance within the tourism sector. Since their introduction, the Tourism Empowerment Programs have delivered close to SAR 3 billion in financing and contributed to the creation of more than 74,000 jobs across the Kingdom.
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.”
A key component of the latest announcements is the expansion of TDF’s collaboration with the Kafalah Program. The previous phase delivered guarantees exceeding SAR 2 billion, enabling more than 2,000 tourism enterprises. The renewed partnership introduces a new programme valued at roughly SAR 700 million, developed with more than 45 financing entities to support tourism projects nationwide.
TDF also revealed a SAR 300 million financing agreement with Arab National Bank, designed to improve growth capital availability for tourism enterprises. This builds on a similar SAR 300 million agreement signed last year, which supported 249 businesses across the Kingdom within 12 months.
In addition, four agreements worth SAR 200 million have been signed under the Non-Bank Financial Institutions (NBFI) programme with Al-Jabr Finance Company, Tayseer Arabia Company, AlRaedah Finance, and Tamweel Aloula. These follow earlier cooperation valued at SAR 250 million and are intended to broaden access to sector-specific financing across all regions.
The Fund also entered an MoU with the Small and Medium Enterprises Bank to develop a dedicated financing model aimed at improving long-term access to financial and non-financial support for MSMEs. According to TDF, more than 10,000 businesses have benefitted from its initiatives to date.
This move aligns with wider goals linked to Saudi Vision 2030, particularly the aim to increase MSME contribution to the national economy, expand the range of services available, and encourage innovation among emerging enterprises.
TDF said it continues to act as the national enabler for development financing and sector expansion, helping businesses scale and supporting investment inflows into tourism. Its work is positioned within the larger framework of the National Development Fund, which brings together development banks and funds under a single platform to coordinate national financing efforts and strengthen public-private partnerships across the Kingdom.
