The Bank for Social Development is signing a memorandum of understanding with the Hail Tourism Development Board to support tourism projects.

Wednesday-2021-01-06

In the presence of His Royal Highness Prince Faisal Bin Fahd Bin, Vice-Amir of the Hail region, the Bank for Social Development signed a memorandum of understanding with the Hail Tourism Development Board to support and finance business leaders from small and emerging enterprises in the Hail tourism sector, through the Held Tourism Incubator ' s initiative to support business leaders and emerging companies in the region, today, 21 January 2021, 1442H.

The Convention was signed by H.E. the Executive Chairman of the Social Development Bank, Professor Ibrahim Bin Hamad Al-Rashid, and by the Secretary-General of the Tourism Development Board of the Hail Engineer Ziyad Bin Masayyyad region.
The Convention aims to build a strategic relationship between the Bank and the Tourism Development Board to support and finance small and emerging entrepreneurs in the tourism business sector in the Hail through the Bank ' s financing products, targeting a number of value-added projects.
This is part of the role of the Social Development Bank on development-impact economic empowerment, through the provision of financing products and non-financial services to projects in the tourism sector nominated by the Hail Tourism Development Council, with a view to creating and rehabilitating projects for Saudi youth in various areas of economic interest, as well as the provision of specialized capacity-building programmes for target business leaders in the tourism sector, to upgrade services in the Hawaa region to improve the quality of the development of the country '
Experience of tourists in the region and provision of non-financial services that will rehabilitate and nurture targeted projects that enhance the region ' s economy and increase its competitive value.
It should be noted that since its founding in 1391 this year, more than eight million citizens and citizens have benefited from the Bank ' s various services and products, and that lending has exceeded R$ 120 billion in social and productive loans, or with regard to the financing of tourism enterprises, more than 2025 enterprises have been loaned at a financial value of over 543 million rials.