SIDF launches new program to finance renewable energy sector, working capital

29/09/2019 Argaam

 

The Saudi Industrial Development Fund (SIDF) has launched a new working capital finance product, SIDF Director General Ibrahim Al Mojil told Argaam in an exclusive.

 

"The fund has also launched a new lending program for the renewable energy sector," Al Mojil said in the private sector empowerment event.

 

Tamkeen platform was also deployed among other new initiatives to reengineer and fully automate SIDF procedures.

 

In January 2019, SIDF hiked its capital to SAR 105 billion to offer various services in the industrial, mining, logistics and energy sectors, Argaam reported.

 

Last July, the Saudi Cabinet approved amending SIDF's regulations.

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