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National Development Fund Adopts Gaming and E-sports Sector Financing Program with SAR 300 Million

General News
Published 7 Sep 2022
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National Development Fund Adopts Gaming and E-sports Sector Financing Program with SAR 300 Million

Riyadh, SPA:
The National Development Fund (NDF) announced adopting a program to finance the gaming and e-sports sector with a budget of SAR 300 million in order to enhance the Kingdom of Saudi Arabia’s position globally and develop all areas of the sector with the aim of increasing its contribution to the domestic product by providing career paths and new job opportunities in realisation of the goals of Saudi Vision 2030.
The Gaming and E-sports Sector Financing Program, which was approved by NDF, in cooperation with the Saudi Esports Federation and Digital Content Program "Ignite", aims to provide products and funding solutions through the development funds and banks affiliated with NDF in partnership with financial institutions in the private sector, as it will directly contribute to providing an integrated economic system by empowerment and financial support to create a stimulating environment.
NDF Governor Stephen Groff explained that the adoption of this program is a part of a first stage within a group of NDF initiatives to develop and enable the gaming and e-sports sector to enhance its role in the economic role of the Kingdom of Saudi Arabia and diversify the non-oil sector economy. It also improves the players’ experience and provides new opportunities, strengthening the Kingdom of Saudi Arabia’s position at the international level. The products and funding solutions to be developed by the program, in cooperation with partners, will be announced by the end of 2022.

Last Modified Date: 07/09/2022 - 1:34 PM Saudi Arabia Time

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