Riyadh, March 07, 2024, The National Development Fund (NDF) has successfully concluded a partnership agreement with the World Economic Forum (WEF) and expressed its intent to join the forum, as stated in a press release from the NDF.
The agreement, signed at the NDF headquarters, involved Chief of Staff Khalid bin Ibrahim Shareef and WEF Head of Global Partner Development and Executive Committee member Alexandre Raffoul.
The primary goal of the partnership is to elevate the NDF's global standing through the utilization of WEF platforms. This includes enhancing the NDF's position in development finance globally, engaging with external organizations, and collaborating with them to address challenges in development finance. By leveraging this collaboration, the NDF aims to adopt best global practices, devise solutions, formulate sound policies for the ecosystem, and maximize its economic impact. Furthermore, the partnership facilitates the establishment of relationships with financial institutions and companies across various sectors.
Joining the WEF provides the NDF with a platform to exchange knowledge and expertise with global leaders from both the public and private sectors. The NDF will benefit from participating in year-round conferences, seminars, and workshops organized by the forum, gaining access to the latest information, research, and reports across economic, commercial, and social fields. This exposure will keep the NDF informed about the latest global trends and emerging technologies in economics and the financial sector.
The membership in WEF includes leading development finance institutions such as the Islamic Development Bank, the African Development Bank, the World Bank Group, the China Development Bank, the Japan Development Bank, the Export-Import Bank of China, and other international financial institutions.
As an umbrella organization for 12 development funds and banks in Saudi Arabia, the NDF's mission is to enhance their performance, encourage collaboration, augment economic and social impact, and facilitate the flow of finance and development loans across various sectors. The NDF prioritizes investments in sectors with strong potential aligned with the goals and priorities of the Saudi Vision 2030.
