The Social Development Bank is signing cooperation agreements with the Solomon Islands Development Finance Corporation

His Excellency the Minister for Human Resources and Social Development, President of the Board of Directors of the Bank for Social Development, Engineer Ahmed Ben Suleiman El-Rajjay, sponsored the Suleiman Foundation Development Finance Foundation ' s " 3 billion " development finance ceremony to strengthen the strategic partnership between the Bank and the Foundation since 2014, which resulted in funding worth more than 3 billion Saudi rials, benefiting more than 200,000 productive families in various parts of the Kingdom.

The ceremony saw the signing of a number of specific conventions, including the extension of the partnership with the Solomon Islands Development Finance Corporation to support productive families in collaboration with the Jenna Fund, the continuation of the 500 million Ryal finance portfolio, as well as the provision of rehabilitation and training programmes through the Bank and the Delhi Business Centre, and the introduction of non-financial services that enable productive families to access markets.

On this occasion, Engineer Sultan Bin Abdulaziz Al-Hamidi, Executive Chairman of the Social Development Bank, expressed his thanks and gratitude to His Excellency the Minister for Human Resources and Social Development, Engineer Ahmed Ben Suleiman Al-Rajjai, for his generous sponsorship of the ceremony and said: " Development financing for the non-profit sector is a major player in enhancing the efficiency and effectiveness of the work of the sector and serving its beneficiaries. Against this background, the Bank, in collaboration with its strategic partners, is developing and developing a range of financing products that meet the needs of the beneficiary group and contribute to supporting the sustainability of operators in this vital sector.

He noted that the partnership with Sleiman El-Jaghi Development Finance Foundation was a leading national model in the integration of the development and non-profit sectors, emphasizing that the impact exceeded the figures to improve the realities of productive families and enable productive employment and financial independence.

In his speech at the ceremony, Professor Mohamed Ben Hamad Thursday, Executive Chairman of the Solomon Islands Development Finance Corporation, confirmed that this ten-year partnership reflected the depth of the strategic relationship with the Bank for Social Development and the success of the development finance model in making a broad impact on society.

He added: " Today we are celebrating a national achievement: the cumulative lending of productive families is three billion rials, a common result of action that confirms our commitment to broaden the impact and enhance the productive role of families, thereby supporting economic independence and contributing to the growth of domestic output. "

Thursday explained that this achievement was an important plant in a series of financing initiatives aimed at building the capacity of productive families and enabling them to shift from dependence to production, in line with the Kingdom ' s vision targets.

In conclusion, Thursday expressed his thanks and gratitude to the Minister for his generous care and continued support, commending the role of the Bank for Social Development as an effective strategic partner in supporting the process of empowerment and prosperity.

It should be noted that this partnership is one of the most prominent models of successful cooperation between the governmental and non-profit sectors, contributing to the empowerment of hundreds of thousands of productive families, to a genuine development transformation at the individual and community levels and to the building of a sustainable development financing system.