Riyadh - Amlak
The Saudi Industrial Development Fund (SIDF) achieved positive results in lending performance during the first quarter of the fiscal year 34/1435 AH (2013), represented by an increase in the number of loans approved by the Fund by 60% compared to the same period of the previous year, as the number of projects approved by the Fund reached 32 industrial projects with financing credits of 388.5 million riyals, while the total investment of these projects amounted to more than 787 million riyals.

The number of projects approved for financing by the Fund reached 32 industrial projects with funding credits of 388.5 million riyals, while the total investment of these projects amounted to more than 787 million riyals.

81% Total approved loans
Ali bin Abdullah Al Ayed, Director General of the Saudi Industrial Development Fund, revealed that the details of these new loans not only carry positive connotations at the quantitative level, but there are also positive and distinctive trends at the qualitative level that serve the interest of the national economy. The category of small industrial projects (less than 15 million riyals) received the largest share of the number of loans, amounting to 26 loans and 811 TP3T of the total number of approved loans, while medium industrial projects (15-50 million riyals) were approved for 5 loans and 161 TP3T of the total number of approved loans.

Al Ayed stressed that this approach by the Fund integrates perfectly with the programs and objectives of the state in the development of small industrial projects, and reflects the success of the Fund's efforts in dealing with this category of projects, especially after the establishment of a special section of the Credit Department with the aim of evaluating small project loan applications and helping the owners of these projects and understanding their needs and discussing with them face to face in order to understand their issues and discuss their ambitions and ideas they have about industrial investment, help them focus their ideas and possibly amend their plans if necessary, identify the risks that may surround their projects and seek solutions to them, as well as the increase in the demand for industrial projects New industrial projects
Al Ayed stated that 27 loans were allocated for the establishment of new industrial projects, representing 84% of the total approved loans, and that only 5 loans were approved for the expansion of existing industrial projects, which indicates the improvement of the industrial investment climate and its increasing ability to attract new investments and create more job opportunities for citizens, and expansion projects indicate the success of projects previously lent by the Fund as they continued to expand their activity and develop their products.
Al Ayed pointed out that there are other positive trends related to the geographical distribution of loans approved during the first quarter of this year, as projects approved for loans in less developed areas represented 28% of the total number of borrowed projects, compared to 16% of the total loans approved in less developed areas since the establishment of the Fund until the end of the fiscal year 1433/1434 H. These developments are a true reflection of the Fund's adoption of strong incentive policies to support the establishment of industrial projects in cities and less developed areas, especially since all these industrial projects that will be established in these areas are serious industrial investments These projects will contribute to promoting balanced development between regions, creating job opportunities for citizens, transferring technology, and raising income levels in these areas. <Comparing the value of the loans approved by the Fund during the first quarter of the current fiscal year, Al Ayed reported that the chemical industries sector topped all sectors with a value of SR 124 million, followed by the building materials industry with SR 102.7 million, the consumer industries sector with SR 84.8 million, the engineering industries sector with SR 75.5 million, and finally the other industries sector with SR 1.5 million, as for the number of loans approved during the first quarter of this year, they were distributed by eight loans each for the consumer industries, chemical industries and the building materials industry, and seven loans for the Indian industries sector, and one loan each for the consumer industries, chemical industries and the building materials industry. 3512 industrial loans
In general, the total number of industrial loans approved by the Fund since its establishment until the end of the first quarter of the current fiscal year amounted to 3512 loans totaling 105.8 billion riyals to contribute to the establishment of 2499 industrial projects throughout the Kingdom. As for the achievements of the SME Finance Guarantee Program managed by the Fund, the performance of the program was outstanding during the first quarter of the current fiscal year compared to the first quarter of the previous year, as the number of approved guarantees during the first quarter of the current fiscal year amounted to 488 guarantees worth 257 million riyals against financing provided by banks participating in the program amounting to 448 million riyals, an increase of 54% over the number of guarantees, 43% over the value of the guarantees, and 35% over the value of financing provided during the same period of the previous fiscal year, bringing the total credits of the SME Finance Guarantee Program from