500 million allocated to 300 health projects

Wednesday-2019-09-18

In the pursuit of the Bank for Social Development in the development of financing products, various investment activities of financial interest, within priority sectors, and inclusiveness in the development integration of the Saudi economic process.

The Bank signed a cooperation agreement with the Ministry of Health to finance 300 emerging and small projects in health activities, with a funding ceiling of up to 4 million rials, where the Ministry of Health represented H.E. Dr. Viyad Ben Assad Al-Dindish, Under-Secretary of the Ministry of Health for Health Investment Development, and by the Bank, H.E. Professor/ Ibrahim bin Hamad Al-Rachd, Director General, Social Development BankI'm sorry.

After signing, the petitioner confirmed that health projects financed by the Bank were stable and growing positively in all regions, benefiting from the services and facilities of 27 Bank branches around the Kingdom, which served to provide more funding support and added values through non-financial services of the Emerging and Small Enterprise category to benefit from opportunities in health activities projects.I'm sorry.

The Bank aims to generate and rehabilitate 300 projects in targeted activities of technical interest, with a funding portfolio exceeding 500 million rials for the next five years I'm sorry.

The Convention also serves strategic objectives in parallel with Saudi Arabia ' s Vision 2030m, to increase the contribution of small enterprises to GDP, increase resettlement in the health sector and support supply and value chains to the sector, while providing qualitative financing solutions to enable small enterprises to benefit from the opportunities arising from this Convention, within the role of the Development Impact Bank, where the Bank is the largest and most effective funding portal for emerging and small enterprises. I'm sorry.

Within the scope of this Convention, the Bank will provide a package of funding products and non-financial services for health project activities nominated by the Ministry of Health, with a view to creating and rehabilitating Saudi youth projects in various areas of economic feasibility, including specialized capacity-building programmes for employersI'm sorry.

This support is part of the Bank ' s strategic directions in financing small-scale projects in priority-specific sectors, where the Development Bank allocated 18 billion to finance small-scale projects until 2025 with the approval of the President of the Board of Directors of the Bank of Engineer Ahmed Ben Suleiman Al-Rajhija.I'm sorry.

With regard to the support and financing of health projects, since 2007, the Bank has supported and financed 306 health projects for more than 13 medical specialists worth more than 450 million rials in a number of areas of the Kingdom.I'm sorry.

It should be noted that the Bank for Social Development has benefited more than 2.7 million citizens and citizens from the various services and products of the Bank since its founding in 1391 and so far, with funding exceeding C$ 107 billion in both social finance and project finance apartments, and those wishing to benefit from the Bank ' s products and services can visit the website. http://www.sdb.gov.sa/