Saudi fund launches $986.40mln initiatives to support industrial enterprises

The initiatives include deferment and restructuring of loan instalments for small, medium and large enterprises

  
Saudi currency, riyal, is seen at a local currency exchange in Manama, Bahrain October 16, 2018. Image used for illustrtor purpose only

Saudi currency, riyal, is seen at a local currency exchange in Manama, Bahrain October 16, 2018. Image used for illustrtor purpose only

REUTERS/ Hamad I Mohammed

DUBAI- The Saudi Industrial Development Fund (SIDF) said on Tuesday it launched initiatives totalling 3.7 billion riyals ($986.40 million) to support private sector industrial enterprises impacted by the coronavirus pandemic.

The initiatives include deferment and restructuring of loan instalments for small, medium and large enterprises, as well as medical ones. They also include lines of credit to finance operating expenses for up to three months for some small and medium-sized enterprises, SIDF said in a statement. ($1 = 3.7510 riyals)

(Writing by Yousef Saba; Editing by Alex Richardson) ((Yousef.Saba@thomsonreuters.com; +971562166204))

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