SIDF promotes domestic economy by SR 9 billion

Published 9 May 2009
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SIDF promotes domestic economy by SR 9 billion
Riyadh - Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz and the Crown Prince, HRH Prince Sultan bin Abdulaziz, Deputy Prime Minister and Minister of Defense and Aviation and Inspector General, extend their thanks to Minister of Finance and all employees of Saudi Industrial Development Fund (SIDF) on the achievements of the Fund, after they had reviewed the annual report of the Fund for the fiscal year 1428-1429, which shows the Fund's achievements in lending industrial projects since its establishment in 1394H.
The report reveals the increase of financial allocations for lending in past year, at rate of 3.1 percent compared to the amount of financial allocations in the previous fiscal year, in which the Fund had provided 107 loans to contribute for establishing 72 new industrial projects, and expansion of 35 projects with financial allocations amounted to SR 8,811 million riyals, the Saudi Press Agency reported.
With regard to the program for financing small and medium enterprises, managed by the fund, the program has issued this year 292 guarantee documents amounted SR 118 million, as financial guarantee from domestic commercial banks for financing small and medium enterprises at total value of SR 279 million riyals.

Last Modified Date: 10/02/2013 - 4:48 PM Saudi Arabia Time


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