SIDF approves 930 loans at SAR 75.4 billion since Vision 2030 launch

Logo of Saudi Industrial Development Fund (SIDF) 

Saudi Industrial Development Fund (SIDF) approved 930 loans at a total value of SAR 75.4 billion since the launch of Saudi Vision 2030, with total disbursements exceeding SAR 50 billion, Al Eqtisadiah newspaper reported.

Small and medium enterprises (SMEs) accounted for 79% of these loans, with cities and promising regions dominating 40%.

In the year to July end, the fund arranged 60 loan facilities at a total value exceeding SAR 6.2 billion for clients in the fields of industry, energy, mining and logistics, with total disbursements at over SAR 3 billion so far.

The business sectors leveraging on these disbursements are engineering, consumer, and chemical industries, building materials, mining, energy, and logistics, while SMEs controlled 73% of the total loans, and cities and promising regions made for 38%.

Since inception to July 2022, SIDF arranged more than 4,853 loans at a total value exceeding SAR 204 billion, of which SAR 138.7 billion were disbursed. Cities and promising regions dominated 23% of these loans.