Riyadh: The Social Development Bank (SDB) signed several strategic agreements during its participation as a developmental sponsor in the “Biban 24” Forum, organized by the Small and Medium Enterprises General Authority (Monsha’at), under the theme “A Global Destination for Opportunities.”
According to Saudi Press Agency, the agreements aim to support and finance entrepreneurs and innovators across several key sectors. This initiative aligns with efforts to boost economic growth by supporting emerging sectors and developing the entrepreneurial ecosystem in Saudi Arabia, contributing to the achievement of Saudi Vision 2030.
The agreements include a partnership with the Ministry of Industry and Mineral Resources to support and finance entrepreneurs and innovators in the industrial sector. This partnership is expected to contribute to the development of national competencies and enhance industrial innovation. Additionally, the bank signed an agreement with the Ministry of Health to bolster cooperation and suppo
rt small and emerging enterprises in the health sector, aiming to improve health services and expand opportunities and innovation in this vital sector.
The SDB also signed an agreement with Monsha’at to support franchising and enable entrepreneurs to access franchise opportunities, thus boosting the entrepreneurial environment. Furthermore, it signed a cooperation agreement with Bank Albilad to provide flexible non-cash facilities to support the growth of small enterprises.
The agreements also included collaboration between the SDB and the Arab Bank to launch an innovative financing product for freelancers. Another agreement was made with Jahez International Company for Information Systems and Al-Qudrah Technical Company (Z) to offer financing solutions that support the development of small and emerging enterprises and freelancers, contributing to the growth and expansion of their businesses.
SDB is participating in the “Biban 24” Forum as a developmental sponsor, reaffirming its leadership role in empower
ing entrepreneurs and providing sustainable financing to foster project development through both financial and non-financial programs.
