Saudi Arabia’s Fund for Development joins forces with FIFA to offer up to $1 billion in football infrastructure loans worldwide
Saudi Arabia’s Fund for Development (SFD) has teamed up with FIFA to provide concessional loans amounting to $1 billion for sporting infrastructure projects globally. This groundbreaking partnership aims to bridge facility gaps in developing nations and bolster social and economic development through football investment.
Saudi Arabia’s Fund for Development (SFD) has taken a major step into global football development through a new agreement with FIFA to provide up to $1 billion in concessional loans for sporting infrastructure projects. The partnership is designed to help close facility gaps in developing nations while supporting broader social and economic development tied to football investment.Saudi Arabia’s Fund for Development (SFD) will provide up to $1 billion in concessional loans to build or upgrade football infrastructure in developing nations under a Memorandum of Understanding with FIFA announced on Monday. The initiative will support sports-facility projects identified by member associations and aligned with national development plans.FIFA said the agreement will prioritize associations in developing countries that outline clear strategies for using sport within broader development goals. Funding will focus on constructing or improving FIFA-certified stadiums and related infrastructure.FIFA President Gianni Infantino framed the agreement as a response to widespread infrastructure needs among the organization’s member federations. He said the partnership will help associations secure the venues and training centres required to host competitions and broaden access to the game."FIFA's role is to develop football worldwide, and many of our FIFA Member Associations need additional support for the infrastructure necessary to host competitions," FIFA President Gianni Infantino said in a statement as per Reuters. "This agreement is a crucial step in ensuring our FIFA Member Associations have the facilities to make football truly global."Under the memorandum, the Saudi Fund for Development will make concessional loans available to finance the construction and upgrading of football infrastructure in eligible countries. The SFD combines below-market lending with technical assistance on project design and delivery, which FIFA says will help ensure facilities meet international and sustainability standards. Member associations will be able to apply for support for stadiums, training centers, and related infrastructure.Many FIFA member associations, particularly in Africa, Asia and the Caribbean, have cited limited access to modern, FIFA-certified facilities as a barrier to expanding participation and hosting competitions. The initiative provides a mechanism for eligible associations to seek financing for new or upgraded infrastructure.
Saudi Fund for Development and FIFA Collaborate for Global Football Development
In a landmark move, the Saudi Fund for Development (SFD) has entered into an agreement with FIFA to offer concessional loans worth up to $1 billion for the enhancement of football infrastructure in developing countries. This strategic partnership, announced recently, seeks to address the shortage of sports facilities in emerging nations while contributing to broader socio-economic advancement associated with football investments.
Supporting Sporting Infrastructure in Developing Nations
Under the Memorandum of Understanding inked with FIFA, the Saudi Fund for Development will extend concessional loans to support the construction or renovation of football infrastructure in developing countries. The initiative aims to aid member associations in realizing sports facility projects aligned with their national development strategies.
Focus on FIFA-Certified Stadiums and Related Facilities
The collaboration between FIFA and the SFD will give precedence to member associations in developing nations that demonstrate a clear vision for integrating sports into their wider development objectives. The financing will primarily target the establishment or enhancement of FIFA-certified stadiums and associated infrastructure, facilitating the growth of football within these regions.
FIFA President's Perspective on the Agreement
Gianni Infantino, the President of FIFA, emphasized the critical role of infrastructure in bolstering football development globally. He underlined the significance of this partnership in assisting member associations in securing the necessary venues and training centers to host competitions, thereby increasing accessibility to the sport across diverse communities.
Empowering FIFA Member Associations through Concessional Loans
Through the memorandum, the SFD will offer concessional financing to enable eligible countries to finance the construction and enhancement of football infrastructure. This support includes below-market loans coupled with technical guidance on project planning and execution, guaranteeing that the facilities meet international standards of quality and sustainability.
Addressing Infrastructure Challenges for FIFA Member Associations
Many FIFA member associations, particularly in regions like Africa, Asia, and the Caribbean, face barriers in expanding participation and hosting competitions due to the lack of modern, FIFA-certified facilities. The new initiative presents an avenue for eligible associations to seek funding for the establishment or refurbishment of infrastructure, thereby fostering the growth of football in these underserved regions.
