The Social Development Bank launches the “Thamar” award for productive family projects

Today morning, Thursday, Jumada al-Akhirah 20, 1439 AH, corresponding to March 8, 2018 AD, the Social Development Bank launched the “Thamar” Award to stimulate productive families’ projects for growth and sustainability, which aims to empower productive families, develop their businesses, and raise awareness of the efforts of concerned parties and quality service providers for this sector.

This morning, Thursday morning, Jumada al-Akhirah 20, 1439 AH, corresponding to March 8, 2018 AD, the Social Development Bank launched the “ Thamar ” award to stimulate productive families’ projects for growth and sustainability, which aims to empower productive families, develop their businesses, and raise awareness of the efforts of the concerned authorities and providers of quality services for this sector. This award aims to highlight the value of entrepreneurship, the importance of diversifying sources of income, and creating new job opportunities .

Contributions will be received and distinctive ideas will be published via the Thamar interactive platform www.Thamar.gov.sa , which has been developed to manage the relationship with the judges and to filter the entries and choose the best ones based on qualitative criteria that include economic feasibility, social entrepreneurship, added value and innovation . The owners of the nominated ideas and projects will also be included in an intensive training program provided by the bank’s Delani Business Center in order to support them in developing their ideas and enabling them to manage their projects professionally.

This is followed by selecting 5 winners from the ideas track and 5 winners from the projects track, in addition to the sponsors track and the system of value chain service providers and logistical support .

The Director General of the Social Development Bank, Mr. Ibrahim Al-Rashed, confirmed during the press conference that launching the “ Thamar ” award would stimulate and enable productive families to engage in the local market and contribute to the expansion and sustainability of these businesses in a way that enhances their investment role, in supporting the Kingdom’s economy and actively participating in Achieving Vision 2030, to reach a prosperous economy in which the Kingdom’s society contributes, stressing that this sector is a promising and vital sector, and many depend on it for its outcomes, whether in terms of economic empowerment, job creation, and social stability. He also stated that the launch of this initiative also aims to highlight the roles of sponsors in serving the beneficiaries of micro-enterprise owners, to provide more opportunities for financial and non-financial support for this important and vital sector .

It is worth noting that the Social Development Bank is constantly working to develop its financing products that target various segments and tracks, such as emerging projects, entrepreneurs, guided fares through mobile applications, the invention track, the excellence track, and the graduates track, as well as productive families, as the bank has financed more than 18 thousand projects. For productive families with a value exceeding 300 million, with a growth rate of 218 % for the year 2017, the bank also financed more than 50 thousand projects with a total value exceeding 6 billion riyals, in addition to the bank being a partner in the nationalization program and developing the small and medium enterprises sector .

The bank provides packages of non-financial services and programs, whether through the bank’s arms or through local and international partnerships, aiming to build and develop the skills of project owners, implement them into markets, and develop the services and products provided by their projects to customers, based on the best international practices and with qualitative local adaptation to the target groups. .

You can participate by visiting the award website : (www.thamar.gov.sa)