In the second quarter of 2016, the Saudi Credit and Savings Bank approved financing for 1,451 projects worth over 172 million riyals across various regions and cities of the Kingdom, as part of its efforts to support and foster the small and emerging enterprises sector, in addition to providing more than 26,000 social loans worth over 1.5 billion riyals.

The bank’s official spokesperson, Abdulaziz Al-Nasser, stated in a press release today that micro-enterprises and productive households accounted for the largest share, with 870 projects worth over 14.7 million riyals, and start-up projects with 490 projects worth over 106.2 million riyals, while the number of excellence projects reached 20 with financing of 33.4 million riyals, and graduate projects numbered 48 with a value of 14.6 million riyals.

There were also 22 telecommunications projects worth 2.7 million riyals, and the bank supported an existing project worth 900,000 riyals.

The Credit Bank spokesperson added that the bank continued its support for social loans and, during the second quarter of 2016, provided 26,052 social loans worth over 1.5 billion riyals, noting that these were distributed among marriage, family, and home renovation loans, with marriage loans totaling 19,601 loans worth 1.1 million riyals, while family loans totaled 6,325 loans worth 377.6 million, and home renovation loans totaled 126 loans worth 6.3 million riyals.