{"id":40350,"date":"2023-03-12T22:53:45","date_gmt":"2023-03-12T19:53:45","guid":{"rendered":"https:\/\/saudishopper.com.sa\/en\/?p=40350"},"modified":"2026-03-28T02:57:45","modified_gmt":"2026-03-27T23:57:45","slug":"sdb-allocates-sar-24-billion-to-finance-entrepreneurs-small-and-emerging-enterprises","status":"publish","type":"post","link":"https:\/\/saudishopper.com.sa\/en\/sdb-allocates-sar-24-billion-to-finance-entrepreneurs-small-and-emerging-enterprises\/","title":{"rendered":"<strong>SDB allocates SAR 24 billion to finance entrepreneurs, small and emerging enterprises<\/strong>"},"content":{"rendered":"\n<p class=\"has-text-align-center wp-block-paragraph\"><em>During its participation at BIBAN23<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Riyadh 12 March 2023 &#8211;&nbsp;<\/strong>Social Development Bank (SDB) has underlined its commitment to enhancing entrepreneurship in Saudi Arabia by allocating SAR 24 billion to finance entrepreneurs, small and emerging enterprises during the next three years, aiming to empower entrepreneurs and supporting them to contribute to providing an effective and influential role and enhancing the role of small and emerging enterprises in the Saudi economy.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Mr. Ibrahim Al-Rashid, CEO, Social Development Bank, said, \u201cSDB has allocated SAR 24 billion to provide more financing support to enterprises through our products and programs. This will be crucial to providing more citizens steppingstones to self-employment and sustainable success. SDB\u2019s strategy is geared towards raising economic productivity. The bank has set out to achieve this by providing access to programs and products to support small and emerging enterprises, develop services, offer financing alternatives in line with targeted sectors\u2019 needs and encourage economic activity.\u201d<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2023\/03\/SDB1_ssict_1200_1285.webp\"><img loading=\"lazy\" decoding=\"async\" width=\"956\" height=\"1024\" src=\"https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2023\/03\/SDB1_ssict_1200_1285-956x1024.webp\" alt=\"SDB1_ssict_1200_1285\" class=\"wp-image-40352\" srcset=\"https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2023\/03\/SDB1_ssict_1200_1285-956x1024.webp 956w, https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2023\/03\/SDB1_ssict_1200_1285-280x300.webp 280w, https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2023\/03\/SDB1_ssict_1200_1285-768x822.webp 768w, https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2023\/03\/SDB1_ssict_1200_1285-1080x1157.webp 1080w, https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2023\/03\/SDB1_ssict_1200_1285.webp 1200w\" sizes=\"(max-width: 956px) 100vw, 956px\" \/><\/a><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cSDB has an ongoing role to monitor social and economic development in the Kingdom and ensure Saudi citizens are adequately supported to succeed. Bank\u2019s initiatives are designed to provide training, bespoke consulting and guidance programs by the Dulani Center, in addition to Jaadah30 which provides business incubators and accelerators to empower SMEs.\u201d he added.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Notably, SDB\u2019s studies have revealed that \u2014 in 2022 \u2014 the funding provided by the bank to local small and emerging enterprises reached to SAR to 5 billion, while the number of entities that benefitted from financing services reached 9 thousand entities. SDB is fully committed to supporting the Kingdom SMEs sector \u2014 in line with its goals and Vision 2030 \u2014 by providing financing solutions to individuals and enterprises.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Furthermore, the Bank signed 11 agreements with multiple stakeholders, the agreements aim to develop and support SMEs as one of the most important streams of the economic and social development process.&nbsp;&nbsp;Additionally, as part of its efforts to support comprehensive development empowerment, 6 financing contracts were signed for entrepreneurs to drive economic growth.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">BIBAN23 brings together 120-plus empowering entities to take part and contribute to the conference, to enrich young people with creative entrepreneurial ideas. Crucially, the gathering is in keeping with the goals of Vision 2030 and the Kingdom\u2019s long-term objective of raising SMEs\u2019 contribution to the nation\u2019s GDP to 35%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>During its participation at BIBAN23 Riyadh 12 March 2023 &#8211;&nbsp;Social Development Bank (SDB) has underlined its commitment to enhancing entrepreneurship in Saudi Arabia by allocating SAR 24 billion to finance entrepreneurs, small and emerging enterprises during the next three years, aiming to empower entrepreneurs and supporting them to contribute to providing an effective and influential [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":40351,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_meta-robots-noindex":"1","_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","_pr_autopilot_social_copy":"","_yoast_wpseo_opengraph_title":"","_yoast_wpseo_opengraph_description":"","_yoast_wpseo_opengraph_image":"","_yoast_wpseo_opengraph_image_id":0,"_yoast_wpseo_twitter_title":"","_yoast_wpseo_twitter_description":"","_yoast_wpseo_twitter_image":"","_yoast_wpseo_twitter_image_id":0,"_yoast_wpseo_primary_category":24,"_extra_hide_author_box":"","_extra_featured_post":"0","_partner_post_id":0,"footnotes":""},"categories":[24],"tags":[],"class_list":["post-40350","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","et-has-post-format-content","et_post_format-et-post-format-standard"],"yoast_head":"<!-- This site is optimized 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