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Saudi NDF allocates $79m for gaming sector programme

RIYADH, September 8, 2022

Saudi Arabia's National Development Fund (NDF) has adopted a programme to finance the gaming and e-sports sector with a budget of SR300 million ($79.83 million) in order to enhance the kingdom's position globally.
 
It also aims to develop all areas of the sector with the aim of increasing its contribution to the domestic product by providing career paths and new job opportunities in realisation of the goals of Saudi Vision 2030, said a Saudi Press Agency report.
 
The Gaming and E-sports Sector Financing Program, which was approved by NDF, in cooperation with the Saudi Esports Federation and Digital Content Program "Ignite", aims to provide products and funding solutions through the development funds and banks affiliated with NDF in partnership with financial institutions in the private sector, as it will directly contribute to providing an integrated economic system by empowerment and financial support to create a stimulating environment.
 
NDF Governor Stephen Groff explained that the programme is a part of a first stage within a group of NDF initiatives to develop and enable the gaming and e-sports sector to enhance its role in the economic role of Saudi Arabia and diversify the non-oil sector economy. It also improves the players’ experience and provides new opportunities, strengthening the kingdom’s position at the international level. 
 
The products and funding solutions to be developed by the programme, in cooperation with partners, will be announced by the end of 2022, the report said.



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