Riyadh – Mubasher: The Social Development Bank (SDB) plans to allocate around SAR 5 billion to finance projects across Saudi Arabia over the coming five years, Ibrahim Al Rashid, general manager of SDB, told Al Eqtisadiah newspaper.

Up to 80% of the total amount, or SARA 4 billion, will be allocated for financing micro-enterprises in the oil-rich kingdom.

Al Rashid added that the remaining SAR 1 billion will be injected in Istidama [Sustainability] programme to launch new investment projects or develop the existing ones.

Istidama is a financing programme for governmental and non-governmental organisations that aims at enhancing the financial sustainability in the country.