A series of agreements to support self-employment

Tuesday-2024-12-24

His Royal Highness Prince Saud bin Naif Bin Abdulaziz Al Saud, Prince of the Eastern Region, met in the office of His Highness at the headquarters of the Principality, His Excellency Engineer Ahmed Bin Suleiman Al-Rajjai, President of the Board of Directors of the Bank for Social Development, during which he discussed ways to develop and promote social and economic development in the eastern region, in keeping with the vision of the Kingdom of 2030.

During this visit, the Minister was accompanied by the Executive Chairman of the Social Development Bank, Engineer Sultan Bin Abdulaziz Al-Hamdi, who held an expanded meeting with business leaders in the East Trade and Industry Chamber, during which he presented a comprehensive presentation on the history of the Development Bank and the Bank ' s funding support to various segments of society in the region. He also highlighted the Bank ' s main achievements and programmes aimed at supporting the business sector, which include funding solutions and non-financing services designed to enable business leaders to build sustainable projects that contribute to the promotion of economic and social growth. In addition, the Hamidian engineer listened to and responded to business leaders ' interventions, stressing the Bank ' s concern and commitment to continue to provide the necessary support to ensure the success and sustainability of their projects.

The visit programme saw the signing of a number of cooperation agreements between the Bank for Social Development and a number of community institutions involved in support of the business sector and the empowerment of self-employment in the eastern region, where a cooperation agreement was signed between the Bank for Social Development and the Secretariat of the Eastern Region aimed at developing the capacity of freelance practitioners nominated by the secretariat and providing funding services to the Bank for their activities in a manner that ensures continuity and sustainability of their projects.

A cooperation agreement has also been signed with the Eastern Industrial Chamber of Commerce, with a view to supporting and rehabilitating Saudi citizens ' businesses in various areas of economic and technical interest, focusing on providing financial and non-financial solutions to support small and emerging enterprises in the region, thereby enhancing the business-led environment and providing promising development opportunities.

In a related context, the Bank signed a cooperation agreement with the Sihat Society for Social Services, which aims to develop the capacity of freelance practitioners nominated by the Assembly through the provision of financing services that support the conduct and continuity of business activities, by providing funding for licensed self-employed practitioners to ensure sustainability of enterprises and to support their owners in achieving the required success.

These conventions are part of the efforts of the Bank for Social Development to strengthen partnership with community institutions in the eastern region, thus contributing to the empowerment of business leaders and support for self-employment for sustainable economic and social development and providing an enabling environment for their business growth. This enhances the status of the eastern region as a pilot to meet the aspirations of the Kingdom ' s 2030 vision.