|
Following the increase
of its capital
to SR 20 billion, the Fund has witnessed a remarkable
growth in the value of
loans approved over the
past two years. Loan
commitments approved
by SIDF during the
fiscal year 1427/1428H
(2007G) totaled SR 8,544 million, i.e. five times the
average annual
commitment since inception of the Fund
to end of 1425/1426H. In
terms of value, the year’s approvals
are approximately 36% higher
than the previous year’s commitments.
As for the size of disbursements in 1427/1428H, the amount soared by 44%
to SR 4,244 million, which is
the highest ever disbursed by the Fund in any fiscal year
since its inception.
Overall, the number of industrial loans
committed
by the Fund
since its founding up to the end of
1427 / 1428H totaled 2913*
loans with a total value of SR 66,806** approved for
support of 2068*** new industrial projects Kingdom-wide. Of the
total amount of committed loans, a total of
SR 42,401 million was
disbursed and SR 28,544 million repaid as of the end of
the fiscal year 1427/1428H.
These figures reflect the success of
borrowing projects, which
benefit not only from
the Fund’s financial support, but also from the consultancy
services it provides in the technical, management and
marketing fields.
According to the report for the year 1427/1428H,
the Fund approved 96 loans of which 69 loans were committed
to new projects, and 27 were
approved to finance expansion of projects that
had formerly been granted
SIDF loans. These expansions are favourable indicatory of
the assistance provided by the Fund to the original projects
which encouraged the latter to expand upstream and downstream
and to improve and upgrade the quality of their products.
Moreover, the Small and Medium
Enterprises Loan Guarantee Program run by the Fund issued 264 guarantee documents during the year amounting
to SR 127 million. The amount can be
appreciated
more fully when set against the total financing of
SR 272 million provided by commercial banks to
small and medium enterprises.
* Of which 401
loans were terminated.
** Of which SR 7,357 million were terminated.
*** Of which 401 projects their loans were terminated.
 |
