Riyadh - SPA
During the fiscal year 1433/1434 AH, the Saudi Industrial Development Fund approved about 136 loans, an increase of 15% over the number of loans approved during the previous fiscal year, the total amount of their approvals amounted to 9.940 million riyals, the highest value of the loans approved by the Fund in one year since its establishment in 1394 AH, and the amounts disbursed during the year reached 6.058 million riyals, while the total amount repaid by the borrowers during the year amounted to 4.310 million riyals, also the highest value of loans repaid in one year since the establishment of the Fund.

The report indicated that the total number of loans approved by the Fund since its establishment in 1394 AH until the end of the last fiscal year amounted to 3,480 loans worth 105,415 million riyals, provided to contribute to the establishment of 2,472 industrial projects in various regions of the Kingdom, adding that the value of the amounts disbursed by the Fund to borrowers amounted to 70,662 million riyals and the value of the amounts repaid to the Fund from borrowers amounted to 41,526 million riyals, as of the end of the fiscal year 1433/1434 AH 2012.
The report pointed out that this support provided by the Fund has had a clear impact, as national factories were able to provide the needs of the local market for many commodities, in addition to many factories were able to export the surplus of their products and provide many job opportunities for Saudi youth, which confirms the success of the projects benefiting from these loans.
The report indicated that during the fiscal year 1433/1434 AH, the Supreme Approval was issued to increase the Fund's capital from (20) billion riyals to (40) billion riyals, and the Board of Directors approved the financing of service projects for the industrial sector implemented within industrial zones that aim to provide supportive and logistical services that contribute to providing full-service industrial zones and create a climate for industrial investments within these zones.
The report issued by the Fund confirmed that in line with the state policy aimed at diversifying sources of income and supporting small and medium enterprises, the government of the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz Al Saud - may God protect him - paid special attention to the SME sponsorship program managed by the Fund, where the program achieved outstanding achievements during the fiscal year 1433/1434 AH 2012, represented in the approval of (1.670 guarantees worth (949) million riyals against financing provided by commercial banks under the umbrella of the program amounting to (1.768) million riyals in favor of (918) small and medium enterprises, an increase of 38% in the number of guarantees, 49% in their value, 38% in the value of financing provided by commercial banks, and 24% in the number of beneficiary enterprises compared to the previous year.

The program achieved outstanding achievements during the fiscal year 1433/1434H 2012.