During his participation in the Pipan24 Forum, the Bank for Social Development signed a number of conventions to support and empower emerging sectors and business leaders

Wednesday-2024-11-06

The Bank for Social Development has concluded a number of strategic conventions during its participation as a development sponsor at the Pyban 24 Forum organized by the General Authority for Small and Medium Enterprises (GME) under the theme " Global Dimension of Opportunities " , with a view to supporting and financing business leaders and innovators in several pivotal sectors, to promote economic growth by supporting emerging sectors and developing an entrepreneurial environment in the Kingdom, thus contributing to Saudi Vision 2030.

These included the signing by the Bank of a convention with the Ministry of Industry and Mineral Resources to support and finance business leaders and innovators in the industrial sector, which contributes to the development of national competencies and the promotion of industrial innovation. The Bank for Social Development has also concluded a convention with the Ministry of Health to promote joint cooperation, support and empower small and emerging enterprises in the health sector, with a view to improving health services and expanding opportunities and innovation in this vital sector.

As part of the promotion of cooperation among various government agencies, the Bank for Social Development has concluded a convention with the Small and Medium Enterprises Authority (SME) to support trade excellence and enable business leaders to obtain trade concession opportunities and promote a business-led environment.

A cooperation agreement has also been signed with the Bank of the country to provide flexible non-cash facilities that contribute to the growth of small enterprises. The conventions also included cooperation between the Bank for Social Development and the Arab Bank to launch an innovative financing product for self-employment practitioners, as well as a further agreement with a ready international information technology firm and a technical capacity firm (g) to provide financing solutions that support the development of small and emerging enterprises and self-employment practitioners, to contribute to the growth and expansion of their work.

These conventions reflect the commitment of the Bank for Social Development to provide a supportive and inclusive environment for business leaders and innovators, to promote their economic opportunities in various sectors and to stimulate the sustained growth of small and emerging enterprises in order to achieve the goals of the Kingdom Vision 2030.

It should be noted that the Bank for Social Development participates in the Biban 24 Forum as a development sponsor, emphasizing its leading role in empowering business leaders and providing sustainable financing that promotes enterprise development through financial and non-financial programmes to support and empower small and emerging companies, business leaders and self-employed practitioners, thereby contributing to economic and social development.