 "FIFA and Saudi Arabia will combine to develop football infrastructure around the world. Image: Reuters")
FIFA has announced a new partnership with Saudi Arabia’s Fund for Development (SFD) to develop infrastructure in developing countries. This is the latest partnership between FIFA and Saudi Arabia, which will be hosting the World Cup in 2034.
Saudi Arabia’s Fund for Development (SFD) will provide up to $1 billion in concessional loans to build or enhance footballing infrastructure in developing nations under a Memorandum of Understanding with FIFA announced on Monday.
Saudi Arabia to provide funds for football infrastructure
The initiative aims to promote sustainable development through investment in sports facilities, focusing on social inclusion, youth empowerment and economic growth.
“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.
“This agreement is a crucial step in ensuring our FIFA Member Associations have the facilities to make football truly global.”
Saudi Arabia has invested billions of dollars in sports events, including football, Formula One, boxing and golf, with critics accusing the country of engaging in “sportswashing” over its human rights record.
The kingdom has denied accusations of human rights abuses.
The SFD provides concessional loans and technical aid to fund projects in developing countries.
With agency inputs