Saudi Arabia and Fifa have demonstrated their close ties by offering up to $1bn (£760m) in soft loans for member football associations in developing countries to build or revamp stadiums.
The Saudi Fund for Development has pledged to provide the finance, which Fifa said would “prioritise developing nations… helping them invest in facilities that drive growth, create opportunity, and inspire participation at every level”.
It comes months after it was confirmed that Saudi Arabia would host the men’s World Cup for the first time in 2034. Fifa has also secured major sponsorship deals with the country’s Public Investment Fund and state-owned Aramco.
“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,” said Gianni Infantino, president of football’s world governing body.
“Through this memorandum of understanding with the Saudi Fund for Development, up to $1bn will be made available via concessional loans to finance the construction and enhancement of Fifa-certified stadiums.
“This agreement is a crucial step in ensuring our Fifa Member Associations have the facilities to make football truly global.”
Loans extend Saudi influence in sport
The SFD says it has supported 800 projects worth in excess of $22bn in 100 countries. Its loans to Fifa member FAs “will also act as seed financing to attract other development institutions, private-sector partners, and regional organisations,” it added.
CEO Sultan bin Abdulrahman Al-Marshad said: “Sport is more than competition – it’s a catalyst for development and inclusion.
“Through concessional financing, we are helping countries build the infrastructure they need to unlock potential, empower young people, and strengthen communities for generations to come.”
Saudi Arabia has emerged as a major player in sport in recent years, most notably bankrolling the disruptor LIV Golf circuit, striking key commercial and hosting contracts in tennis and emerging as a leading venue and deal-broker in boxing.
In football, it has attracted stars such as Cristiano Ronaldo to its Saudi Pro League and hosted the Club World Cup in 2023, before its expansion into a 32-team summer spectacular.