Amir Asir sponsors the signing of the cooperation agreement between the Social Development Bank and the Region Development Authority

Prince Turki bin Talal bin Abdulaziz, Emir of the Asir Region, CEO of the Region Development Authority, sponsored the signing of the cooperation agreement between the Asir Region Development Authority and the Social Development Bank, worth one billion riyals, in the presence of His Excellency the Minister of Human Resources and Social Development, Engineer Ahmed bin Suleiman Al-Rajhi, Chairman of the Bank’s Board of Directors. Social development, in order to provide financial support to small and existing enterprises. The agreement aims to raise the level of services in the region. And enriching the tourist experience, which comes within the strategy of developing the Asir region as a tourist destination in the Kingdom.

The agreement was signed by the Asir Development Authority, Deputy CEO, Dr. Saad bin Ali Al-Ghamdi, and by the Social Development Bank, the CEO of the bank, Mr. Ibrahim bin Hamad Al-Rashed, as the joint cooperation between the Authority and the bank comes within the region’s strategy in implementing the tourist trip project implemented by the Supreme Authority for Development. Asir region, as one of the strategic programs, considering tourism as the main pillar in the development of the region. The project also contributes to enhancing economic activity and job growth in the Asir region .

The Emir of the Asir region extended his thanks and gratitude to the Custodian of the Two Holy Mosques and his trustworthy Crown Prince - may God protect them - for the constant care and attention that the Asir region enjoys in all its development programs and projects, and for setting the complete strategy for the Ministry of Labor, which includes what was signed for joint cooperation between the Bank Development and the Asir Development Authority, which, God willing, will achieve a more prosperous future for all small and existing establishments, which will enhance economic and tourism growth and advance the work of young men and women in the region. His Highness the Emir of Asir extended his thanks and appreciation to His Excellency the Minister of Human Resources and all the Ministry’s employees for their ongoing efforts and their great role in implementing the vision of the wise leadership and what the nation’s ambitious vision entails .

In turn, His Excellency the Minister of Human Resources and Social Development, Engineer Ahmed bin Sulaiman Al-Rajhi, praised these efforts and initiatives in light of the Kingdom’s Vision 2030 AD, considering the Asir region full of opportunities and capabilities, especially in the tourism sector, noting that the signing of the agreement enhances the building of a strategic development partnership between the Bank and the Authority, through which we look forward to Raising the level of participation of small and emerging enterprises in economic development and contributing to raising the local product by supporting citizens to practice self-employment and own their own projects, the impact of which is reflected in supporting economic diversification and creating job opportunities for male and female citizens of the region .

The CEO of the Social Development Bank, Ibrahim Al-Rashed, explained that the bank works according to a strategy aimed at empowering and supporting small and emerging national enterprises to increase their contribution to the national economy, with a focus on stimulating economic activity in promising areas such as the Asir region .
Al-Rashed indicated that the bank will provide a set of qualitative financing solutions that enhance the directing of financing to vital sectors, indicating that the bank seeks, through expanding financing of targeted projects, to pump financing amounting to one billion riyals to support the local economy and raise the efficiency of workers in the sector, male and female pioneers. Business .
It is noteworthy that the Social Development Bank is the largest and most widely accessible portal for economic empowerment with a social impact for male and female citizens in Saudi Arabia. You can learn about the bank’s products and services by visiting the bank’s website www.sdb.gov.sa.