Saudi Credit and Savings Bank (SCSB) has approved the financing of 286 projects within the Small and Emerging Enterprises Support and Financing Program “Masarat”, specifically in the two tracks of excellence and startup projects worth more than 79 million riyals, in the framework of supporting, financing and sponsoring small and emerging projects.
Abdulaziz Al-Nasser, the bank's spokesperson, explained the diversity of the nature of the approved projects between medical, educational, industrial, service and commercial projects distributed in most regions and cities of the Kingdom, in addition to varying between men and women's projects.
<The projects included 11 projects within the excellence projects worth 17,519,000 riyals.The projects included a water factory and a medical laboratory in Yanbu, an education and training evaluation center in Makkah, an aluminum cladding factory in Jeddah, a dermatology and cosmetology center, a dental center, a clinical consultation center and furnished residential units in Riyadh A block factory in Al Namas, a dental center in Al Khobar, and furnished residential units in Unaiza, where the support of the excellence track focuses on projects whose investment value exceeds 300 thousand riyals up to 4 million riyals, while the share of the approval of financing start-up projects was 275 start-up projects worth 61.753,508 riyals, which targets projects whose investment value does not exceed 300,000 riyals, bringing the total amount of funding approved in the excellence and startup tracks to 79,272,508 riyals.
It is worth mentioning that since the beginning of the current year 2015, the bank has financed more than 2400 projects worth more than 388 million riyals, through its support for small and emerging enterprises, microenterprises and productive families, whether through the bank directly or through its executive arms of the sponsoring organizations supported by the bank.
This is the first time that the bank has financed more than 2400 projects with a value of more than 388 million riyals.
