RIYADH: Unlocking the potential of sports to drive economic and social development, the Saudi Fund for Development (SFD) and FIFA have signed a Memorandum of Understanding (MoU) to allocate up to USD 1 billion in concessional loans for the construction and rehabilitation of sports stadiums and essential surrounding infrastructure in developing countries around the world.
The agreement underscores a shared commitment to support developing nations in strengthening their sports ecosystems as part of broader efforts to advance social and economic development. The programme will prioritise developing nations and their respective FIFA Member Associations (MAs), helping them invest in facilities that drive growth, create opportunity, and inspire participation at every level.
This commitment is backed by compelling evidence of sport’s economic impact as independent reports estimate that the global sports economy contributes nearly 2 percent of world gross domestic product, underscoring its growing role as a driver of employment, tourism, and community development. With 211 MAs worldwide, the gap between nations with world-class facilities and those without remains wide. (FIFA)
