SIDF approves loans worth above SAR 17 bln in 2020

27/12/2020 Argaam


Logo of Saudi Industrial Development Fund

The Saudi Industrial Development Fund (SIDF) endorsed loans at an aggregate value exceeding SAR 17 billion in 2020, which is an exceptional volume in its history, the state-run SPA reported, citing CEO Ibrahim Almojel.
 

The top executive said that this year's exceptional results were driven by the growing performance of the industrial sector, coupled with provision of more support for promising sectors.
 

In addition, the results included the support provided by SIDF as part of the proactive initiatives that targeted the industrial and medical sectors to mitigate the economic repercussions of COVID-19 pandemic. This included financial initiatives worth above SAR 5 billion provided by the fund, according to Almojel.

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