Bank for Social Development adopts a number of small and emerging enterprises during February 2021m

Monday-2021-03-29

As part of the role of the Bank for Social Development on the empowerment of small and emerging enterprises through its financial and non-financial products and services, the Bank approved during February 2021 funding for a number of small and emerging enterprises in all regions of the Kingdom, with funding approved for 433 enterprises and valued at over 170 million rials.

Various projects (industrial, medical, technical, commercial, renewable energy, etc.) and the Bank ' s interest in providing access to all segments of society and comprehensive geographical coverage. Over the course of the month, funding was 64 per cent of total funding outside major cities (Riyadh, Jedd., Damam).

In supporting and financing small and emerging enterprises, the Bank seeks to achieve the Kingdom ' s vision of 2030 by raising the contribution of SMEs from gross domestic product (GDP) from 20% to 35%, in addition to spreading a culture of self-employment and encouraging young people to enter the business world and realize their aspirations, which has a positive impact on the country and citizens at the economic and social levels.

It should be noted that the Social Development Bank is a gateway to the economic empowerment of enterprises at different stages and sectors, and those wishing to benefit from Bank products and services can be provided directly through the Bank ' s website.
www.sdb.gov.sa