Riyadh – Mubasher: Saudi Industrial Development Fund (SIDF) has approved loans worth SAR 12.5 billion during 2019, with a year-on-year (YoY) increase of 32% in total value reaching a new record high for the fund.

SIDF plans to encourage more investments in strategic sectors, as well as risk management and governance, said Bandar bin Ibrahim Alkhorayef, Saudi Minister of Industry and Mineral Resources, and Chairman of SIDF, Saudi Press Agency (SPA) reported.

Small and medium sized projects accounted to 77% of the total number of loans provided in 2019, with finances provided for industrial projects in promising regions reaching 41%.