SIDF eyes new products in 2022, says spokesperson

Khalil Alnammari, Saudi Industrial Development Fund’s (SIDF) spokesperson

Saudi Industrial Development Fund (SIDF) is planning to launch and update several new products of support programs in 2022 to stimulate the private sector to invest in the target sectors, according to the fund’s official spokesperson Khalil Alnammari.

One of the financing products being updated this year is the “Supply Chain Finance” product program to make it more attractive to a large number of investors, Alnammari told Al-Eqtisadiah.

He pointed out that the collection of loans provided by the fund to beneficiaries is carried out in accordance with its target, indicating that the pandemic directly affected the repayment of loans by factories.

He expects an improvement in the performance of companies in terms of collection during the current year.