Dr. Nayef Al-Shammari, Director of the Credit Department at the Industrial Development Fund, revealed that the total number of industrial projects financed by the Fund until the end of 2014 amounted to 2,717 projects, with total funds amounting to 118 billion Saudi riyals, distributed as follows: 38% in chemical industries, 20% engineering industries, 17% consumer industries, 11% in building materials industries, 10% cement industry, 4% for other industries.

This came during a special presentation at the forum «Investment Opportunities in Industrial Cities» organized by the Saudi Authority for Industrial Cities and Technology Zones «MODON» in Riyadh, recently.

Dr. Al-Shammari explained that the Industrial Development Fund raised the percentage of financing industrial projects in promising regions and cities since the beginning of 1433 AH to 75% of the project cost instead of 50% previously, accompanied by extending the repayment period to 20 years instead of 15 years, in addition to raising the maximum loan limit for industries established in these areas to 1.At the same time, he pointed out that the number of projects that were funded before the implementation of the decision to support promising areas amounted to 14%, while the same percentage by the end of 2014 reached 57%, while the percentage of the amount of loans for projects in promising areas out of the Fund's total loans amounted to 15% before the implementation of the decision, and reached 50% by the end of 2014.

The amount of loans for projects in promising areas amounted to 15% before the implementation of the decision, and reached 50% by the end of 2014.