A special SR2 billion ($530 million) fund to help finance public and private sector involvement in Saudi tourism projects was launched in the Kingdom on Thursday.
The Saudi Tourism Development Fund, and Riyad Bank have linked up to establish the Tourism Partners program, the first initiative of its kind in the country allowing both sectors to participate according to specific performance indicators.
Aimed at developing quality tourism facilities and activities in the Kingdom, the program will have a financing value of up to SR2 billion to support the funding of tourism projects being implemented this year.
The new program is part of Saudi Arabia’s drive to strengthen partnerships between the government and private sectors through the Shareek initiative launched by Crown Prince Mohammed bin Salman.
Tourism Development Fund, Riyad Bank join hands
to launch SR2 billion financing fund for 113 projects April 30, 2021
The Tourism Development Fund (TDF) in partnership with Riyad Bank launched on Thursday the Tourism Partners program, allocating a funding capital of up to SR2 billion ($530 million) to enable the development of Saudi Arabia s key destinations.
RIYADH The Tourism Development Fund (TDF) in partnership with Riyad Bank launched on Thursday the Tourism Partners program, allocating a funding capital of up to SR2 billion ($530 million) to enable the development of Saudi Arabia s key destinations.
The program is a first of its kind where the public and private sector work collaboratively against individual performance indicators on each side, ensuring the highest standards of governance to achieve the objectives of the program.
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Tourism Development Fund Forms Tourism Partners Program with Riyad Bank swfinstitute.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from swfinstitute.org Daily Mail and Mail on Sunday newspapers.
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