Riyadh, February 13, 2025 – In a bold move to strengthen its support for the rapidly growing esports and gaming industry, the Social Development Bank (SDB) has announced a significant 53% increase in its funding for the sector. The bank has raised its portfolio from SAR 300 million to SAR 458 million, underscoring its commitment to fostering innovation and growth within one of the Kingdom's most promising industries. This strategic expansion aligns closely with Saudi Arabia's National Gaming and Esports Strategy and is backed by the National Development Fund, reflecting the government's broader vision to transform the Kingdom into a global hub for gaming and digital entertainment.
The increased funding will provide critical financial support to a diverse range of businesses within the esports and gaming ecosystem. Over 30 businesses have already benefitted from the enhanced financial backing, including esports clubs, game developers, publishers, and gaming centers. These investments are designed to empower local companies, stimulate entrepreneurship, and enhance the overall competitiveness of the Saudi gaming industry on a global scale.
As a key player in supporting emerging sectors, the SDB is focused on fostering innovation and driving economic diversification. The gaming and esports sector, which has seen exponential growth worldwide, presents a wealth of opportunities for Saudi Arabia to position itself as a regional leader in both technology and entertainment. By expanding its financial support for the sector, SDB aims to accelerate the development of cutting-edge gaming technologies, build local talent, and create new avenues for economic development.
The decision to increase funding comes at a time when the esports and gaming industry is experiencing rapid expansion in Saudi Arabia, driven by the Kingdom's young, tech-savvy population and its growing appetite for digital entertainment. Through initiatives like this, the SDB plays an integral role in shaping the future of the gaming sector, supporting businesses that drive innovation, and positioning Saudi Arabia as a key player in the global gaming industry.
With this move, the SDB reinforces its commitment to the goals outlined in Saudi Vision 2030, which seeks to diversify the Kingdom's economy, promote technological advancement, and create a vibrant, sustainable future for its citizens. By investing in sectors like esports and gaming, the SDB is helping to create a dynamic and forward-thinking economy that can adapt to the ever-evolving demands of the digital age.