Saudi Industrial Development Fund has approved a total of 930 loans, valued at over SR75.4 billion ($20 billion), since the launch of the Kingdom’s Vision 2030 six years ago, a report said.

Small and medium enterprises accounted for 79 percent of the loans, while the total value of the amounts disbursed to clients was over SR50 billion, the Arab News report quoting media outlet Al Eqtisadiah said.

From January to July this year, the fund approved 60 loans, valued at over SR6.2 billion, to clients in sectors of industry, energy, mining and logistics services, it said.

The new figures come as the Saudi Deputy Minister of Industry and Mineral Resources Osama Al-Zamil announced the imminent launch of the National Industrial Strategy, according to Arabic news outlet Asharq Alawsat.

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