Social Development Bank allocates SAR 22 bln for small enterprises

Social Development Bank (SDB) has allocated up to SAR 22 billion for setting up more than 70,000 small enterprises in the private sector, Saudi Press Agency reported, citing director general, Ibrahim Alrashid.

“The lender will prepare a study on the job opportunities which attract the nationals,” Alrashid said speaking on the sidelines of the Riyadh 2019 meeting.

SDB’s strategy, which is aimed at boosting entrepreneurship, is based on providing training for entrepreneurs, offering financing packages at a total value of SAR 4 million, and helping them to access the labor market.