The Development Bank approves 240 projects worth 46 million riyals

The Social Development Bank completed the advanced applications for financing of several development projects in all regions of the Kingdom during the month of Shawwal 1439 H. The financing of 240 small and small projects in the Kingdom was approved for a total value of 46 million riyals.
Deputy Director General of the Microfinance Sector, Saeed Al-Zahrani, said the approved projects combined a number of specialized finance products from the Bank to enable economically viable projects according to the indicators of the Bank. supply and demand. The geographic coverage of more than 55 cities and governorates of the Kingdom, he said, stressed that the bank wanted to reach the most promising and developed areas in the goals of economic empowerment and development. access of the Bank. The Bank encourages young people and girls to help support the Kingdom's economy and to participate in the goals of the National Transition Program 2020 and to realize the vision of the 2030 Kingdom.
He emphasized that the Bank does not not limited to support The Bank's services to entrepreneurs and entrepreneurs include a range of non-financial services including entrepreneurial capacity building, including training, specialized consulting, business solutions and application for markets and mentoring. With the help of a group of international and local consultants, and also in direct cooperation with a system of strategic partners, aimed at contributing to the diversification of revenue sources and creating more opportunities for the sons and daughters of the country. Increase the contribution of small and medium-sized enterprises to GDP by 20% to 35%, spread the entrepreneurial culture and encourage young people and girls to enter the world of business and realize their dreams and ambitions that will have a positive impact on the country and the citizen.
The most important activities were funded in sectors such as industry, medical, renewable energy, retail, professional services, production labs, creative sectors, food and nutrition.

It should be noted that the Social Development Bank is the most widely used economic portal for small and medium-sized enterprises in the Kingdom. As part of its central role in project financing, establish quality partnerships with the support system, local value chains and supply chains, and provide non-financial services in integrated packages that together enhance success and sustainability.