SDB injects SAR 11B to support freelancing in 2023: AlRajhi

Ahmad AlRajhi, Minister of Human Resources and Social Development 

The Social Development Bank (SDB) injected more than SAR 11 billion into the national economy in 2023 to support the ambitions of the nation's youth and promote freelance projects, said Minister of Human Resources and Social Development Ahmad AlRajhi.

The minister added that more than 155,000 citizens benefited from this initiative, with the number of small and medium-sized enterprises (SMEs) surging from 429,000 in 2016 to over 1.2 million currently, the Saudi Press Agency (SPA) reported.

This emphasizes the support and empowerment provided by the visionary leadership to entrepreneurs, amplifying the pivotal role of SMEs and freelancing in bolstering economic resources. Such efforts contribute significantly to the overall increase in the gross domestic product (GDP), aligning with the goals outlined in Saudi Vision 2030.

These remarks were made during the Entrepreneurship and Modern Work Patterns Forum organized by the Social Development Bank, held on Jan. 22-23, under the theme "Deve Go".