Saudi fund provided $ 4.5 billion in loans to companies last year, via Reuters


DUBAI (Reuters) – The Saudi Industrial Development Fund said in a statement on Thursday that it provided 212 loans worth $ 4.5 billion to companies last year, most of them small businesses.

Loans were extended to 201 projects in areas such as industry, mining, energy, and logistics, and SMEs received 84 percent of the funding.

The government fund seeks to encourage industry in the kingdom as it seeks to transform its oil-dependent economy.

(David Barbuccia press coverage – Doaa Muhammad prepared for the Arabic newsletter – Edited by Moataz Muhammad)

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