Within the framework of the Financing Week events, the General Authority for Small and Medium Enterprises, commonly known as ‘Monsha’at’, has sealed a cooperative agreement with the Social Development Bank to join the bank’s Entrepreneurial Finance product. This initiative is set to bolster small and medium-sized enterprises (SMEs) and entrepreneurs by offering a comprehensive suite of financing solutions and facilities to foster the growth and expansion of their ventures.
The announcement was made in the presence of important figures including the CEO of the Social Development Bank, Engineer Sultan Al Hamidi, the Deputy Governor for Planning and Development at Monsha’at, Suleiman Al Tarif, and the bank’s Deputy Executive President for Business, Mohammed Al Areini.
The agreement includes efforts to support entrepreneurs by providing financial programs and solutions designed for SMEs, aimed at enhancing their innovative projects and growth. Monsha’at will contribute by offering training services, consultancy, and enabling entrepreneurs benefiting from the bank’s ‘Entrepreneurial Finance’ product through support centers located in Riyadh, Medina, Jeddah, and Al Khobar.
On its part, the Social Development Bank will handle loan applications and make appropriate decisions, among other agreed-upon tasks. The Financing Week continues with various educational and developmental programs to support entrepreneurs in enhancing the sustainability of their projects and securing suitable funding and support. Monsha’at invites those interested in benefiting from the Financing Week activities to register through the provided link to learn about the dialogues, session timings, and other programs featured throughout the week.
