The total financing provided by the Social Development Bank in the first half of this year amounted to 6.4 billion riyals in all regions of the Kingdom, benefiting more than 150,000 beneficiaries from small and emerging enterprises, entrepreneurs, and self-employed, in addition to non-financial service packages and savings programs. ; To maximize the developmental and economic impact.
Small and emerging enterprises acquired the largest share of financing, amounting to about 2.6 billion riyals for 5,700 establishments. This was accompanied by the provision of specialized enabling programs and capacity-building solutions. To increase the chances of success and sustainability of small and emerging projects, and their contribution to the gross domestic product.
According to a bank statement reported by the Saudi Press Agency, the bank enhanced the savings behavior of citizens, as customers’ savings behavior increased by 20%, and more than 23,000 new savings accounts joined.
Within the framework of international rapprochement and cooperation with UNCTAD, one of the United Nations programmes, the Bank is currently preparing to host the annual meeting of Empretech Centers Managers in Riyadh during October 2023; Two new initiatives will be announced in the national emerging technology sectors and logistics services.