The Social Development Bank accredits a number of small and emerging enterprises during the month of February 2021

Within the role of the Social Development Bank concerned with empowering small and emerging enterprises through the bank’s products and services, both financial and non-financial, the bank approved financing for a number of small and emerging enterprises in all regions of the Kingdom during the month of February 2021, as it approved financing for 433 facilities, with a value exceeding 170 million riyals.

It varied between projects (industrial, medical, technical, commercial, renewable energy, etc.), and the bank was keen, through financing, to reach all segments of society and provide comprehensive geographical coverage, as the percentage of the financing value during this month was outside the main cities (Riyadh - Jeddah - Dammam 64% of the total financing.

In its support and financing for small and emerging enterprises, the Bank seeks to achieve the Kingdom’s Vision 2030 by raising the contribution of small and medium enterprises to the gross domestic product from 20% to 35%, in addition to spreading the culture of self-employment and encouraging young men and women to delve into the world of business and achieve their ambitions, which has a positive impact on The nation and the citizen at the economic and social levels.

It is worth noting that the Social Development Bank is considered a gateway to the economic empowerment of enterprises at various stages and sectors, and those wishing to benefit from the bank’s products and services can apply directly through the bank’s website.
www.sdb.gov.sa