Saudi-government Kafalah grants $115mln in loans to female-led enterprises
Businesses in the central region of Riyadh got the lion's share
Image used for illustrative purpose. Young Emirati businesswoman looking away at conference table.
By Staff Writer, Arab News
The Small and Medium Enterprises Loan Guarantee Program (Kafalah), a government initiative to finance small and medium enterprises, granted SR432 million ($115 million) of loans to 456 businesses led by women in the first half of 2021, according to Al-Eqtisadiah newspaper.
Businesses in the central region of Riyadh got the lion's share as they received the highest Kafalah support, with 151 establishments accounting for 33 percent of the total, taking SR178 million in financing. This was followed closely by Makkah region with 115 establishments, or 25 percent, receiving SR97 million. The Eastern Province came third, with 102 establishments, or 22 percent, receiving SR99 million.
The Kafalah program spans several business sectors including wholesale commerce, catering and hotels, manufacturing industries, and administrative and support services.
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