Riyadh – Mubasher: Around 824 buildings have been benefited from the indirect lending initiative, with total expenses of SAR 800 million ($213.29 million), according to a statement released by the Small & Medium Enterprises General Authority (Monshaat).

The initiative is aimed at providing low-cost loans to SMEs and entrepreneurs in Saudi Arabia, the statement added.

Monshaat’s SAR 1.6 billion ($430 million) indirect financing initiative was launched to support finance provided to SMEs through the diversification of financial support’s sources.

Monshaat is working on diversifying SMEs’ financial support’s sources in order to increase their contribution to the country’s GDP to 35% by 2030.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2019 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.