SIDF News

"The Saudi Industrial Development Fund (SIDF) revealed the amount of support offered to its private sector clients during 2022. As the figures indicate, SIDF granted 111 loans worth 14.2 billion SAR, distributed among sectors of industry, energy, mining, and logistics, at an increasing percentage of 28% compared to the total approved loans in 2021.
The loans approved to the industry sector were 102 loans at a total value of 13.4 billion Riyals, followed by the logistics services sector with five loans at a total value of 522 million Riyals. Moreover, the energy sector received two loans at a total value of 225 million Riyals, and the mining sector received two loans at a total value of 55 million Riyals.
In addition, SMEs accounted for 79% of total loans, totalling 87, and factories in promising regions and cities received 40 loans totalling 11.4 billion Riyals.
During 2022, SIDF's lending activities covered several qualitative and strategic projects to help increase local content and improve the quality of local products. Furthermore, since SIDF's inception, the total value of net approved loans to SIDF's clients exceeded 180,6 billion Riyals, while the total disbursement reached 142 billion Riyals.
SIDF concluded 2022 by launching new initiatives, products, and programs, most notably ""SIDF Investment Company"", and the first phase of the Ministry of Industry and Mineral Resources, ""Improving Local Industrial Initiative"", which includes two tracks: ""Tanafusiya Accelerator"" and ""Soft Loans"". Finally, SIDF partnered with several local and international banks and companies to support industrial facilities."