Saudi TDF to provide credit facilities to Jahez clients

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The TDF will provide its financing solutions and provide the opportunity to obtain financing and investment facilities for Jahez clients of micro and small enterprises, which amount to more than 45,000 facilities operating in the restaurants and cafés sector

Staff Writer, TradeArabia

August 31, 2022

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Saudi Arabia’s Tourism Development Fund (TDF) signed an agreement with Jahez company, a leader in providing delivery services for restaurants and cafés, to provide credit facilities to Jahez’s clients in tourist destinations.

Through the memorandum of understanding (MoU), the TDF will provide its financing solutions and provide the opportunity to obtain financing and investment facilities for Jahez clients of micro and small enterprises, which amount to more than 45,000 facilities operating in the restaurants and cafés sector, reported Saudi Press Agency (SPA).

The MoU was signed in the presence of the TDF's CEO, Qusay bin Abdullah Al-Fakhri, and the CEO of Jahez, Ghasab Al-Mandeel.

This signing comes within the framework of the TDF's keenness to develop tourism projects in the Kingdom, and to support and encourage the private sector, especially micro and small enterprises, which constitute more than 90% of the tourism sector, with the aim of achieving the objectives of the National Tourism Strategy, and developing tourist destinations that enjoy competitive advantages, in accordance with the national goals of tourism and the Kingdom’s Vision 2030.

Al-Fakhri, said: "The signing of the MoU with Jahez reflects the keenness of the TDF to support, empower and encourage the private sector, especially micro and small enterprises, by facilitating procedures, providing financing solutions and providing the necessary support to ensure business sustainability, in order to achieve the National Tourism Strategy and the Kingdom's Vision 2030."

Ghasab Al-Mandeel, said: "By signing the MoU with the TDF, we hope to provide everything possible to enhance the role of the restaurants and cafés in tourism sector in the Kingdom, support investors and enable them to expand their activities in tourist destinations, and encourage them to continue and progress.”