SIDF News

The Saudi Industrial Development Fund (SIDF) has participated in events held under the Industry Week organized in collaboration between the Ministry of Industry and Mineral Resources (MIMR) and the General Authority for Small and Medium Enterprises "Monshaat" from 14 - 18 March 2021. The event aimed to introduce those interested in the industry to the strategic plans and investment opportunities in the industrial sectors by providing specialized practical workshops through experts and relevant government entities. SIDF, represented by Eng. Mohannad Al-Nuaim – Director of Credit Relationships Department, participated in a workshop entitled “SIDF Programs that Enable Entrepreneurs and SMEs". He provided a comprehensive introduction to the Fund's strategy, products, and financing solutions in promising industrial sectors, which were designed to create an attractive environment for industrial investors. Eng. Mohannad also referred to the Fund's contribution to financing the SME sector in the Kingdom through granting loans which have exceeded 84% of the total number of approved loans, and pointed out to the support given to industrial projects in promising regions and cities through financing up to 75% of their total costs and offering a tenure of up to 20 years along with other incentive programs and services. SIDF is the main financial enabler for the industry, mining, energy and logistics sectors under the National Industrial Development and Logistics Program "NIDLP". It has played a pivotal role in enabling the industrial sector in the Kingdom for more than 46 years, placing the development of national cadres and growth of the national economy at the top of its priorities and continuing to meet the expectations of the private sector to develop the industrial ecosystem in the Kingdom. ​