المملكة: The Social Development Bank supports 20 pioneering projects worth 10 million riyals

The Social Development Bank concluded the activities of the training camp for one of the portfolios designated for social responsibility, which lasted for 5 days in the Riyadh region.
As the camp resulted in the support of 20 pioneering projects with a total financing of 10 million riyals, with a financing ceiling amounting to 500 thousand riyals for each project, out of the total value of the wallet of 30 million riyals, which was in cooperation with one of the food requests delivery companies.

Empowering entrepreneurs

The bank took over the management of the financing portfolio through the study of the feasibility of projects, the disbursement of financing, and the follow -up of projects to ensure its sustainability, within an integrated model aimed at supporting and empowering entrepreneurship.

The camp’s activities included providing the participants with the necessary knowledge and skills, including preparing economic feasibility studies, training in the provision of investment offers, which paves the way for them to enter the market with confidence and flexibility, and the development of pioneering projects capable of competing and sustaining, as this training comes within the framework of a strategic partnership with one of the delivery companies Food requests, with the aim of enhancing cooperation between the public and private sectors to achieve sustainable development, and enable entrepreneurs in the promising logistical sector.
The CEO of the Social Development Bank, Eng. Sultan Al -Hamidi, the portfolio is not just a financing tool, but rather a comprehensive development system aimed at enhancing the spirit of innovation and leadership among Saudi youth, and through the bank’s management of the portfolio, the bank is working to achieve a sustainable impact that supports the national economy and creates real opportunities for ambitious youth.

Financing and empowerment

He pointed out that the bank’s goal of launching a portfolio dedicated to social responsibility is to prepare a leading model to provide an organized framework that allows companies to contribute effectively to community development and enhance sustainable development.

As M. Al -Hamidi, that the achievements of the Social Development Bank do not stop at the limits of financial financing, but rather extend to the formation of a system of non -financial services, enriching the capabilities of entrepreneurs and preparing them for ways of success and empowerment, through specialized consulting programs, vocational counseling, and training.
And M. Al -Hamidi, that the small and emerging establishments sector, the mainstay of the national economy, and since its establishment, has reached the volume of funding provided by the bank to the small and emerging facilities sector and the practitioners of free work 43 billion riyals.