Saudi Arabia’s Social Development Bank (SDB) has committed US$6.4 billion (SAR 24 billion) to finance entrepreneurs and SMEs over the next three years. Making this announcement at Biban 2023, the five-day conference being organized by Mon’shat, Saudi Arabia’s Ministry for Small and Medium Enterprises, SDB said the aim is to empower entrepreneurs and enhance the role of SMEs in the Saudi economy. Emphasizing that this allocation will provide Saudi citizens with more opportunities for self-employment and sustainable success, SDB CEO Ibrahim Al-Rashid said the bank aims to support and develop SMEs as one of the most significant streams of the social and economic development process.
