RIYADH: The Momentum 2025 conference on the future of development finance underscores the National Development Fund’s role as a central enabler of Saudi Arabia’s development according to its governor.
Speaking to Arab News on the first day of the three-day conference in Riyadh, NDF’s Stephen Groff said the forum aims to enhance cooperation among local development funds, banks, and international development finance institutions, while fostering stronger partnerships with public and private sector leaders to ensure the optimal deployment of resources in support of Vision 2030.
He emphasized the NDF’s focus on stimulating investment in non-oil sectors and supporting entrepreneurs and SMEs through innovative financing and guarantee tools.
Groff said: “The purpose of this conference is to highlight the work that is being done by the NDF and its ecosystem of 12 affiliated funds and banks to support the Saudi economic diversification in line with Saudi Vision 2030, as well as to support the growth of jobs and opportunities for all Saudis.”
On the NDF’s role within the broader development ecosystem, he added: “Well, the objective of the NDF, more broadly is to support the economic objectives of Vision 2030, by helping in economic diversification, helping in the growth of new sectors, de-risk private investment into these newer sectors, so that we can ensure that there is sufficient amount of capital coming in, to support the diversification, and ensure that the kind of growth that we are seeing in the country is sustainable and resilient over time.”
