The Industrial Development Fund completed financing for 972 industrial projects, comprising a total of 1,375 loans, during the years 1435–1436, to contribute to the establishment of industrial projects in the Riyadh region. According to the Industrial Development Fund’s recently released annual report, Riyadh ranked first in terms of the number of approved loans, but it ranked second in terms of the “value” of approved loans, which totaled 22.953 million riyals, representing 19 % of the Fund’s total allocations.
The report noted that the loans approved by the Industrial Development Fund for the Riyadh region amounted to approximately 53 loans for projects located in the capital, representing 37% of the total number of loans approved during the year. These loans were provided to establish approximately 45 new industrial projects and expand eight existing industrial projects.
Riyadh ranked first in the number of approved loans and third in terms of the “value” of approved loans during the year the report was issued, with a total value of 893 million riyals, representing approximately 15% of the total value of the Fund’s approved loans during the year 1435–1436.
The report noted that during the year 1435–1436, the Fund approved 18 industrial loans worth 440 million riyals to contribute to the establishment of 17 industrial projects and the expansion of one industrial project, The report indicates that these projects are distributed as follows: four projects in Jazan; three projects each in Asir, Hail, and the Northern Border Province; two projects in Al-Jawf; and one project each in Tabuk and Al-Baha.
