The Social Development Bank supports entrepreneurs at the World Defense Exhibition

The Social Development Bank participated in the first edition of the World Defense Exhibition activities, which were launched in Riyadh, under the patronage of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud - may God protect him -, with the participation of 600 entities from more than 40 countries around the world. Throughout the exhibition, the bank’s pavilion includes many financing services to support entrepreneurship projects in the field of military industries, as well as through its specialized arms, such as the “Delni” Center. and center " ampric" To provide non-financial services, in order to raise the efficiency of workers in the field of entrepreneurship and increase their capabilities to contribute to the productivity of the national economy. The bank’s CEO, Ibrahim bin Hamad Al-Rashed, praised the importance of the World Defense Exhibition, which is being organized for the first time in Riyadh, in keeping with the objectives of the Kingdom’s Vision 2030, and in interaction with global developments in the field of security and defense. He noted the pioneering and diverse projects that the bank financed for entrepreneurs in the field of military industries through the partnership of their institutions with... Ministry of Defense. Al-Rashed confirmed that the bank’s financing programs are provided to small enterprises with a financing ceiling of up to 10 million riyals, with a grace period of up to a year and a half to enable these sectors to grow rapidly and contribute effectively in the fields of industries and logistics services. It is noteworthy that the Social Development Bank has financed more than 30 thousand establishments during its history, of which 6 thousand establishments were financed during the year 2021, at a value of 3 billion riyals, and it is considered the largest bank for financing small enterprises.