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The Saudi Industrial Development Fund recorded great results in the fiscal year
1426/1427H. Loan commitments & industrial projects amounted to six
thousand two hundred eighty-eighty million riyals comprising eighty six
industrial loans distributed to projects around the regions on the kingdom.
H.E. Engr.Yousif bin ibrahim AL-Bassam, SIDF Chairman of the Board of Directors
indicates that the loans were distributed among different industrial sectors.
The chemical industries sector came first in terms of size of loans extended
representing 47% of the total value of approved loans. It was followed by the
engineering industries sector, other building materials sector, cement industry
sector and consumer industries sector, respectively with 19%, 14%, 13% and 7%
of the total size of loans.
Al -Bassam pointed that the loans amount represents a record figure since SIDF
inception and vividly indicates industrial investment growth in the kingdom. He
said that current indicators signify continuity and increase of the lending
activities, this reflects and confirms the strength, viability and prosperity
of the national economy as well as the private sector’s marked trend towards
investment in the industrial sector.
Al-Bassam continued to say that, since SIDF’s inception the approved loans
totaled fifty eight thousands two hundred sixty million Saudi riyals. This
amount was distributed among the regions of the kingdom particularly the East
Region commending 40% of the total loans size, followed by Riyadh and Makkah
Regions, respectively was the 24% and 20% of the total approved loans. These
approved loans were distributed among the industrial sector. The chemical
industries sector occupied the first place in terms of the size of approved
loans, with 37%. It was followed by the engineering industries sector with 21%,
then consumer industries with 19%.
As for the Small & Medium Enterprises loan Guarantee Program (LGP), the
management of which assigned to the Fund, SIDF started its implementation as of
the budget of the same year. Policies, rules and regulations have been
developed. Executive work forms and relevant administrative, financial and
technical procedures have, also, have been completed. Cooperation agreements
with the banks have been also signed up to date. The program management issued
51 guarantees in the amount of SR 22 million covering SR 49 million extended to
36 enterprises by a number of banks.
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