Corporate Sustainability: Saudi launches $178mln loan deferral plan for business – ZAWYA

Corporate Sustainability: Saudi launches $178mln loan deferral plan for business – ZAWYA

Corporate Sustainability: Saudi launches $178mln loan deferral plan for business | ZAWYA MENA Edition HomeEconomyGCCArticleCorporate Sustainability: Saudi launches $178mln loan deferral plan for business The Saudi Ministry of Finance has launched more than 15 programs to promote economic recovery in the wake of the pandemic    Image used for illustrative purpose. The view of Riyadh horizon during a cloudy day.JEDDAH: Saudi Arabia has launched a SR670 million ($178 million) initiative to help businesses in the Kingdom defer loan installments due this year amid economic uncertainty caused by the COVID-19 pandemic.The Saudi Ministry of Finance's corporate sustainability program will ease loan requirements to support projects for 192 companies employing over 20,000 Saudis across different industries. The ministry launched the program to support the private sector and reduce the financial and economic impact of the pandemic.Mohammed Alomran, a financial analyst and president of Gulf Center for Financial Consultancy, said the initiative will have long-term benefits.The Saudi Ministry of Finance's corporate sustainability program will ease loan requirements to support projects for 192 companies employing over 20,000 Saudis across different industries. The ministry launched the program to support the private sector and reduce the financial and economic impact of the pandemic.JEDDAH: Saudi Arabia has