SIDF approves loans worth SAR 14.2 bln in 2022

Logo of Saudi Industrial Development Fund (SIDF)

Saudi Industrial Development Fund (SIDF) approved loans of SAR 14.2 billion in 2022, a 28% year-on-year (YoY) increase.

The number of approved loans last year stood at 111, distributed among industrial, energy, mining and logistics services, the fund said in a statement obtained by Argaam.

The small and medium enterprises (SMEs) received the largest number of loans at 87, representing 79% of total approved loans.

Meanwhile, SIDF provided 40 loans to factories in the promising regions and cities at a total value of SAR 11.4 million.

According to the statement, the fund financed qualitative and strategic projects during 2022, which would contribute to boosting local content and raising the quality of local industries.

The net value of loans to clients since the fund’s establishment exceeded SAR 180.6 billion in 2022, while the total amounts disbursed stood at SAR 142 billion.