The state-owned Social Development Bank (SDB) has pledged SAR11 billion ($2.93 billion) over three years to support entrepreneurs in Saudi Arabia, official sources have said.
The bank announced this while participating in the Global Entrepreneurship Congress (GEC) in Riyadh.
The event was organized March 27-30 by the Saudi Small and Medium Enterprises General Authority (Monsha’at) in cooperation with the Global Entrepreneurship Network (GEN) under the theme “Reboot, Rethink and Regenerate”.
The pledge is said to be part of the bank’s efforts to empower Saudi youth and promote comprehensive national development.
The SDB is also said to have signed, on the sidelines of the conference, several agreements with various strategic bodies.
These agreements apparently aim to provide training, rehabilitation, and sponsorship services to the beneficiaries of male and female entrepreneurs.
