Riyadh – Mubasher: The Saudi Industrial Development Fund (SIDF) said it has provided more than SAR 5 billion in support to the kingdom’s private sector activities to mitigate the financial and economic effects of the coronavirus pandemic.

A total of 546 projects have been restructured for clients at more than SAR 4 billion, as instalments of 274 small businesses were postponed and restructured at a value exceeding SAR 826 million, whilst the number of medium-sized businesses whose instalments were restructured reached 118 at over SAR 906 million, according to a statement on Wednesday.

Moreover, instalments of 40 major businesses were postponed at SAR 2.3 billion, in addition to 14 medical projects at SAR 74 million.

Furthermore, the fund launched financial products within its support initiatives worth more than SAR 1 billion.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2020 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.