Saudi Arabia’s National Development Fund entered into a partnership agreement with the World Economic Forum on Thursday, the Saudi Press Agency reported.
The NDF will gain from engaging in the WEF’s extensive schedule of conferences, seminars, and workshops
Saudi Arabia’s National Development Fund entered into a partnership agreement with the World Economic Forum on Thursday, the Saudi Press Agency reported.
The NDF, which was established in 2017, acts as an umbrella for 12 development funds and banks in Saudi Arabia.
Its primary role is to enhance their operational efficiency, encourage synergies, increase their contributions to the economy and society, and ensure the continuous provision of finance and development loans across diverse sectors.
The agreement with the WEF will involve promoting the NDF’s position in the global development finance arena and fostering collaboration with leading financial institutions to tackle challenges in the sector.
WEF’s network already includes institutions like the Islamic Development Bank, the African Development Bank, the World Bank Group, the China Development Bank, the Development Bank of Japan, and the Export-Import Bank of China, which will help facilitate the NDF’s access to best practices, policy development strategies, and avenues to amplify its economic influence.
The NDF will gain from engaging in the WEF’s extensive schedule of conferences, seminars, and workshops throughout the year, enhancing its exposure to cutting-edge information, research, and insights in various economic, business, and social domains, the SPA added.
This is expected to keep the NDF at the forefront of global economic trends and technological advances within the finance and economic sectors.
The agreement was signed by the NDF’s Chief of Staff Khalid bin Ibrahim Shareef, and the WEF’s Head of Global Partner Development and Regional Business Strategy Alexandre Raffoul.
Saudi Arabia and Syria signed a cooperation agreement between the two countries' defense ministries on Wednesday, Saudi state news agency SPA reported, as Yemen's Iran-aligned Houthi group continues its missile and drone attacks on the kingdom.
Turkey's parliament is set on Wednesday to ratify a defence pact with Saudi Arabia and Pakistan that includes a collective defence clause, committing NATO's second-largest army to Riyadh's defence as it faces attacks by Yemen's Iran-backed Houthis.
Iran and the United States are still far from a deal to end their war, a senior Iranian official told Reuters on Tuesday, as US President Donald Trump declined to rule out a resumption of US combat operations after the elections in the United States.
To make this website run properly and to improve your experience, we use cookies. For more detailed information, please check our Cookie Policy.
Necessary cookies enable core functionality. The website cannot function properly without these cookies, and can only be disabled by changing your browser preferences.