Saudi Aramco on Thursday launched a SME support program, which aims to deliver funding and financial solutions to businesses through five funds, and capital exceeding SAR 3 billion ($800 million).

The funds are being set up in collaboration with partners to support SME development in the sustainability, digital, manufacturing, industrial and social innovation domains, the Saudi oil giant said in a statement.

The program, called Taleed, will help boost their contribution to economic development and support job creation.   

Aramco has signed 30 MoUs with leading public and private partners to enable development of the SME ecosystem.

(Writing by Brinda Darasha; editing by Seban Scaria)