Sign a 10-million diagram with the Saudi People ' s Bank.

Sunday-2024-12-15

The Bank for Social Development signed a cooperation agreement with the Saudi People ' s Bank aimed at establishing a financial portfolio with a sustainable impact within the " Ahalina " programme of social responsibility of the Saudi Arabian Bank. This Convention is part of joint efforts to support the children and daughters of the country in the area of business leadership and to provide them with knowledge and leadership skills to qualify for funding for their projects, thus contributing to the promotion of economic and social development.
The Convention is an innovative model for guiding the social responsibility initiatives of the Saudi Arabian Community towards sustainable economic and social development, where the areas of cooperation between the two parties focus on the establishment of a funding programme entitled " Alina " to fund business leaders of 10 million Saudi rials. Under this Convention, the Social Development Bank will manage the portfolio sustainably and direct it to the beneficiaries of business leaders and emerging enterprises in the various sectors to the benefit of growth.
The Convention looks forward to the direct impact of empowering different groups of society and stimulating them to become positive capacities that support the growth of the national economy, with a focus on strengthening community-based initiatives that are in line with the Saudi People ' s Bank ' s strategy to empower individuals and institutions, as well as community support in all regions of the Kingdom in cooperation with the public and non-profit sectors, in line with the objectives of the Saudi Arabian National Agenda and Vision 2030.
In his comment on the Convention, Engineer Sultan Bin Abdulaziz Al-Hamidi, Executive Chairman of the Social Development Bank, stated: " This Convention is an extension of the Bank ' s march towards sustainable development, enhanced business leadership and support for Saudi youth to build sustainable projects with tangible effect: our partnership with the Saudi People ' s Bank contributes to advancing development and reflects our common vision for building a productive and prosperous society. "
For his part, Professor Tariq Al-Sadhan, Executive Chairman of the Saudi People ' s Bank, said: " Through the Alina programme, we seek to consolidate our commitment to society by supporting emerging business leaders and enterprises, thereby enhancing our contribution to sustainable development and emphasizing the role of social responsibility as an integral part of our institutional strategy. "
The Convention affirms the commitment of the parties to promote public-private cooperation for sustainable development by supporting business leaders and emerging enterprises in various parts of the Kingdom, thus contributing to inclusive economic and social development consistent with Saudi Arabia ' s ambitious vision.