Saudi Social Development Bank to Fund 85,000 Productive Families

SourceAl Bawaba
SectorFinancial Services
CountrySaudi Arabia

Saudi Social Development Bank's programs contributed to the backup and funding of as many as 85,000 productive families, with a total sum of SR1.2 billion loans, by the middle of 2020. The funding came through development-orienting and partners of micro-credit associations, including affordable loans that suit all stages of families activities process, potentials' building and training, in addition to products' marketing facilities and dedicating incubators for small businesses. All that have taken place against the backdrop of the Cabinet endorsing of the productive families regulation, last year, which stipulated forming of a permanent committee, in this regard, under the chairmanship of the Social Development Bank, to reflect the keenness of state on defining the roles, unifying efforts exerted and to raise cooperation synergizing level among different departments, to actualize development of such more...