Saudi Arabia: Tourism Development Fund Inks $43 Billion Agreement for Tourism Projects

Saudi Arabia: Tourism Development Fund Inks $43 Billion Agreement for Tourism Projects

Published September 30th, 2020 - 06:30 GMT































Saudi Arabia's Tourism Development Fund on Monday signed an agreement with local banks to finance up to SR160 billion ($43 billion) of tourism projects in the Kingdom, the Saudi Press Agency reported.

The agreement was signed by the fund's CEO Qusai Al-Fakhri, the CEO of Riyadh Bank Tareq Al-Sadhan, and the managing director and CEO of Banque Saudi Fransi, Rayan Fayez.

Saudi Arabia's Minister of Tourism and chairman of the fund's board of directors, Ahmad Al-Khateeb, was present during the signing ceremony.

The agreement will