The Small and Medium Enterprises Bank (SME Bank) has announced financing programs aimed at empowering small and medium enterprises (SMEs) to foster economic growth and achieve sustainability.
The bank’s programs are designed to bridge financing gaps and offer flexible funding solutions, including co-financing to strengthen partnerships with financial institutions, agency financing tailored to specific SME needs, and low-cost financing to enhance competitiveness and ease the financial burden on entrepreneurs.
These initiatives align with SME Bank’s vision of supporting the private sector as a cornerstone for economic development, focusing on enabling SMEs to play a crucial role in achieving the objectives of Saudi Vision 2030.
Established under the resolution of the Saudi Council of Ministers No. 376, dated 4/7/1442 AH (corresponding to 16/2/2021), SME Bank aims to support the Kingdom’s Vision goals by raising the SME sector’s contribution to GDP from 20% to 35%.
