Khaberni - In a step that reflects its commitment to enhancing football infrastructure globally, Saudi Arabia intends, in agreement with the International Federation of Football Associations (FIFA), to launch a "billion dollar" initiative to fund the construction and development of stadiums and sports facilities around the world.
The agreement was signed between the Saudi Development Fund (SFD) and FIFA, according to The Touchline | 𝐓 account, where the fund will provide concessional and low-cost loans with a total value of up to one billion U.S. dollars to FIFA member countries, aiming to build or upgrade their stadiums and sports facilities.
FIFA President Gianni Infantino described this partnership as "a fundamental step in improving infrastructure in developing football nations globally," emphasizing its role in providing suitable environments for the development of the game.
This agreement comes at a time when the Kingdom is preparing to host the 2034 World Cup, thereby enhancing its footprint and influence in the global football landscape.
On its part, the Saudi Development Fund explained that the goal of these loans goes beyond the purely sports aspect, as the initiative aims to:
Enhance job creation.
Empower youth in local communities.
Support long-term community development, and not just meet sports needs.
