National Development Fund seals partnership with WEF
RIYADH, March 10, 2024
Saudi-based National Development Fund (NDF) has announced that it has sealed a partnership agreement with the World Economic Forum (WEF) with the goal of accession to the forum.
The agreement aims to enhance the NDF's global standing through WEF's platforms. It will also foster partnerships with financial institutions and companies across various fields, reported SPA.
This will involve promoting the NDF's global position in development finance, communicating with other relevant external organizations, and collaborating with them to address challenges in development finance.
The agreement was signed at NDF headquarters by Chief of Staff Khalid bin Ibrahim Shareef and WEF Head of Global Partner Development and Executive Committee member Alexandre Raffoul.
The collaboration will allow NDF to acquire the best global practices, find solutions, develop sound policies for the ecosystem, and maximise its economic impact. It will also foster partnerships with financial institutions and companies across various fields.
The partnership provides a platform for NDF to exchange knowledge and expertise with worldwide leaders from the public and private sectors.
Additionally, the NDF will benefit from participating in year-round conferences, seminars, and workshops organized by the forum and gain access to the latest information, research, and reports across various economic, commercial, and social fields.
This will help the NDF stay informed about the latest global trends and emerging technologies in economics and the financial sector, it stated.
The WEF membership includes the world's leading development finance institutions, such as the Islamic Development Bank, African Development Bank, World Bank Group, China Development Bank, Japan Development Bank, Export-Import Bank of China and other international financial institutions.
NDF acts as an umbrella for 12 development funds and banks in Saudi Arabia. Its mission is to boost their performance, foster collaboration among them, augment their economic and social impact, and keep finance and development loans flowing across various sectors.
This is achieved by prioritizing investments in sectors with strong potential to align with and fulfill the goals and priorities of the Saudi Vision 2030.-TradeArabia News Service
