Aug 01 2012
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Centennial Fund plans to boost SMEs
Prince Abdul Aziz bin Abdullah, the deputy foreign minister and board chairman of the fund, said the plan is aimed at boosting small and medium enterprises (SMEs) for their economic and social impact on the society.
He said so far, 3,447 projects had been entitled to receive money from the Centennial Fund valued at more than SR 733 million in more than 180 towns and villages, which are set to create 5,434 jobs.
He said the Centennial Fund also provided sponsorship services to 113 projects, with their capital exceeding SR 11 million.
On his part, the director general of the fund, Abdulaziz Al-Mutairi, said the new strategy focused on how to create the biggest number of jobs in the fight against poverty and unemployment through boosting the SMEs.
He stressed the importance of entering into partnerships with both government and private sector firms that have interest in these projects.
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