Saudi Gazette report

RIYADH — Riyadh Emir Prince Faisal bin Bandar inaugurated the Development Finance Conference (MOMENTUM 2025) at the King Abdulaziz International Conference Center in Riyadh on Tuesday.

The three-day conference, with the theme "Leading Development Transformation," is being held under the patronage of Crown Prince, Prime Minister and Chairman of the Board of Directors of the National Development Fund Mohammed bin Salman.

In his remarks at the conference, Mohammed Al-Tuwaijri, vice chairman of the Board of Directors of the National Development Fund, expressed his gratitude to the Crown Prince for his patronage of the conference.

Al-Tuwaijri revealed that the National Development Fund's system, which comprises 12 development funds and banks, provided financing amounting to over SR52 billion in a single year, contributing approximately SR47 billion to the non-oil GDP.

“This reflects a shift from financing to development and from support to sustainable impact. The system also supported more than one million beneficiaries and empowered thousands of citizens with access to financing and entrepreneurship opportunities,” he said.

Reviewing the results of the development funds, Al-Tuwaijri explained that the Tourism Development Fund supported more than 2,000 projects, while the Cultural Development Fund financed over 1,500 projects, and the Industrial Development Fund contributed to financing 4,000 projects. Internationally, the Saudi Fund for Development financed more than 800 projects and programs in 100 countries, with a value exceeding $21 billion.

Al-Tuwaijri indicated that the Arab Coordination Group, of which the Kingdom is a key member, is committed to providing more than $80 million in support to promote green transformation, food security, and infrastructure development in developing countries.

He emphasized that the MOMENTUM Conference reflects Saudi Arabia's comprehensive national transformation and serves as a strategic platform that unifies efforts and opens new horizons for national and international partnerships within the development finance landscape.

“What we are witnessing today is more than a conference; it represents a new pathway for comprehensive and sustainable development. It aims to maximize developmental impact across society and the environment through a thriving and sustainable economy, while showcasing the Kingdom's position on the global stage as a leading destination for development transformation,” he said.

Al-Tuwaijri said that the high-level conference aims to advance the strategic directions of the NDF and its affiliated development funds and banks by enriching the development sector, enhancing ecosystem efficiency, and strengthening the sector's ability to meet national priorities. It also seeks to consolidate efforts and align objectives to ensure a sustainable developmental impact on society and the economy.

According to the NDF chief, the MOMENTUM conference stands as a strategic platform that reflects Saudi Arabia's commitment to driving sustainable development. “It is a pioneering national event that showcases the NDF's role in enabling comprehensive development transformation and enhancing integration among national development funds and banks. The conference provides a unique platform for knowledge exchange and dialogue on the future of global development finance and its role in advancing the objectives of Saudi Vision 2030,” he said.

Al-Tuwaijri said the conference also highlights the pivotal role of the private sector and small and medium-sized enterprises within the development finance ecosystem, recognizing them as fundamental drivers of economic growth, job creation, and competitiveness, in line with Vision 2030.

The conference brings together several princes, high-ranking officials, CEOs, global thought leaders, development experts, and economists. It features more than 100 local and international speakers representing a distinguished group of economic and development leaders from over 120 local and international entities. This reflects the conference's role as a global forum aligned with the leadership's vision to build a financing ecosystem that contributes to driving sustainable development and enabling vital sectors

The MOMENTUM conference contributes to strengthening coordination and integration among development funds and banks, global development finance institutions, and building partnerships with leaders in the public and private sectors. This ensures the optimal use of resources in pursuit of the goals of the Kingdom's Vision 2030, it was pointed out.