Saudi fund inks financing deal with Riyad Bank, BSF for tourism projects

29/09/2020 Argaam

The Tourism Development Fund (TDF) signed a cooperation agreement with Riyad Bank and Banque Saudi Fransi (BSF) to support and facilitate financing for tourism projects and encourage investment in the sector within the Kingdom.

 

According to a statement from TDF, the support mechanism ensures provision for a number of financial products, including credit facilities and multiple financial guarantees in partnership with banks.

 

The agreement also includes support and facilitation mechanisms for the development of mega tourism projects in various regions of the Kingdom.

 

The agreement comes as an implementation step for a number of memoranda of understanding (MoUs) signed earlier by TDF with banks to allocate over SAR 160 billion to support tourism projects.

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