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Industrial Development Fund issued 3566 loans to 2545 projects

Industrial Development Fund issued 3566 loans to 2545 projects
19 Sep

Riyadh - SPA

The Saudi Industrial Development Fund issued 3566 loans in total for 2545 projects all
over the country since its foundation. 27% of the loans have been allocated to joint
venture industrial projects. Pursuant to instructions from the Saudi cabinet, the bank
increased financing of projects in the least developed regions and cities from 50% to
75% of the cost of each project and extended loan repayment period from 15 to 20 years.
55% of the loans worth 63% of the total value of loans have been allocated to these
cities and regions.
In compliance with the government policy, the bank provides loans to micro and medium
size enterprises.

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