Saudi industrial fund offered $48bn in loans over 50 years

Economic progress in the Kingdom has received a boost with the Saudi Industrial Development Fund lending in excess of SR180 billion ($48 billion) over 50 years.

The total value of the 4,000 projects that the fund has invested in is worth around SR700 billion.

The leading financial institution celebrated its 50th anniversary on Monday in Riyadh, highlighting its contributions to the national economy and the development of human resources through a concurrent exhibition.

According to the Saudi Press Agency, over the past five decades, the SIDF has contributed significantly to supporting and enabling industrial development in the Kingdom.

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The total value of the 4,000 projects that the fund has invested in is worth around SR700 billion.

The SIDF is also recognized for offering one of the most attractive and productive work environments for nurturing national talent.

This academy serves as a knowledge hub, elevating the expertise of the staff, enhancing the industrial ecosystem.

The industrial fund is also recognized for offering one of the most attractive and productive work environments for nurturing national talent. Throughout its history, the fund has prioritized the training of national professionals, leading to the establishment of its academy in 2019. This academy serves as a knowledge hub, elevating the expertise of the staff, enhancing the industrial ecosystem, and supporting the private sector to stay abreast of current and future advancements. The fund was established to promote investment opportunities, strengthen the local industry, and enhance its performance. As mentioned on the fund’s website, these measures are realized by contributing to the formation of industrial sectors, boosting competitiveness, and sustaining strategic initiatives.