Saudi Arabia’s National Development Fund Forms Strategic Alliance with World Economic Forum
Riyadh, The Gulf Observer: Saudi Arabia’s National Development Fund (NDF) formalized a significant partnership agreement with the World Economic Forum (WEF) on Thursday, as reported by the Saudi Press Agency. Established in 2017, the NDF serves as an umbrella organization for 12 development funds and banks within Saudi Arabia, focusing on enhancing operational efficiency, promoting synergies, and increasing contributions to the economy and society across diverse sectors.
The collaboration with the WEF is set to elevate the NDF’s position in the global development finance arena. The partnership aims to foster collaboration with leading financial institutions and address challenges in the sector, contributing to the Kingdom’s economic advancement.
The WEF’s extensive network includes renowned institutions such as 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. This network will facilitate the NDF’s access to best practices, policy development strategies, and avenues to amplify its economic influence.
The NDF will benefit from engaging in the WEF’s comprehensive schedule of conferences, seminars, and workshops throughout the year. This strategic involvement is designed to enhance the NDF’s exposure to cutting-edge information, research, and insights across various economic, business, and social domains. By staying at the forefront of global economic trends and technological advances within the finance and economic sectors, the NDF aims to play a pivotal role in shaping Saudi Arabia’s economic future.
The partnership agreement was officially signed by Khalid bin Ibrahim Shareef, Chief of Staff at the NDF, and Alexandre Raffoul, Head of Global Partner Development and Regional Business Strategy at the WEF.
