«Credit and Savings» approves financing 336 projects
Amlak - Follow-ups
The Saudi Credit and Savings Bank (SCSB) has finally approved the financing of 336 projects within the Small and Emerging Enterprises Support and Financing Program “Masarat”, specifically in the emerging projects track, worth more than 75 million riyals.
The bank's spokesperson Ahmed Al Jabreen said that the bank approved the final funding list for 336 projects worth SAR 75,805,139 in the emerging projects track, which targets projects whose investment value does not exceed SAR 300,000.
“The nature of the projects varied between service, commercial and industrial projects in most regions and cities of the Kingdom, in addition to that they varied between men's and women's projects, noting that the lowest amount of funding approved in these projects was 61,000 riyals, while the highest amount of funding was 300,000 riyals, which is the upper limit for funding this track,“ Al-Jabreen added, adding that the bank is keen in its support policy for emerging projects to focus on a number of aspects, including contributing to reducing unemployment and reducing the presence of expatriate labor and benefiting the sons and daughters of the country and providing job opportunities for those wishing to establish projects that benefit them and their families.
It is noteworthy that during the past year 2013, the bank supported and financed 2013 projects worth nearly half a billion riyals, including 1481 start-up projects worth 323 million riyals.It is worth mentioning that the Bank has accredited the Center for Building Productive Families ”Jana" of the Sulaiman bin Abdulaziz Al Rajhi Charitable Foundation as a sponsor to support and sponsor productive families and micro enterprises whose investment cost does not exceed 50 thousand riyals, as the Bank has previously cooperated with some relevant entities that deal with productive families and micro enterprises such as Harfah Association, Awn Project and Bab Rizq Jameel, the Bank aims through its approval of these entities to raise the level of non-financial services provided to craft and handicrafts owners and develop projects in the sector.
