Social Development Bank allocates 500 million riyals to fund 300 pilot projects in the health field

SPA – Riyadh

The Social Development Bank and the Ministry of Health signed a cooperation agreement covering 300 start-up projects and small projects in the health sector, with a maximum funding ceiling of 4 million riyals. In the developmental integration of the economic process in the kingdom.

The agreement was signed by the Deputy Assistant Secretary of the Ministry of Health for Development of Investments in Health, Dr. Fayyad bin As ad Al-Dandash, and the Director General of the Development Bank social, Ibrahim Bin Hamad Al-Rashed.

Al-Rashed pointed out that the health projects financed by the bank are stable and experiencing positive growth in all regions, benefiting from the services and facilities of 27 branches of the bank throughout the kingdom. Opportunities in health activity projects.

The director of the Social Development Bank explained that the bank's goal was to generate and qualify 300 projects as part of targeted achievable technical activities, with a funding portfolio exceeding 500 million riyals for the next five years . Increase resettlement in the health sector, support supply chains and the value of this sector, while providing quality financing solutions that allow small businesses to take advantage of the opportunities arising from this agreement, framework of the Social Development Bank Development, where the bank is the largest funding gateway and the largest permeable and small emerging projects.

He added that the bank would provide under this agreement a set of financing and non-financial services for health projects designated by the Ministry of Health to create and qualify projects for Saudi youth. in various areas of economic feasibility, including specialized capacity building programs for entrepreneurs.

This support is part of the bank's strategic direction for funding small projects in priority sectors, where the Development Bank has allocated $ 18 billion to finance small projects up to 2025, with approval. His Excellency the President of the Bank, Mr. Ahmed bin Sulaiman Al Rajhi.

With regard to the support and financing of health projects, the Bank has supported and financed 306 health projects since 2007 in more than 13 medical specialties representing more than 450 million riyals in various regions of the Kingdom.

It is worth mentioning that the Social Development Bank benefited from its establishment in 1391, which now counts more than 2.7 million citizens and citizens of the various products and services of the Bank. Mail http://www.sdb.gov.sa.