The Saudi Industrial Development Fund (SIDF), a government financial institution, was established in 1974 (1394H), with a mandate to finance, and support the development of the private industrial sector by providing medium- and long-term loans for the setting up of new factories, expansion, upgrade and modernization of the existing ones. This in addition to the SIDF's consultancy services to the local industrial projects in the administrative, financial, technical and marketing fields.
SIDF, along with other industry-related government agencies, plays a pioneering role in achieving the objectives, policies and programs of the industrial development that are designed to support the private sector in the various fields of manufacturing industries. SIDF's finance to the industrial investments is one of the most essential tools in supporting the Kingdom's industrial development.
The private sector's positive response in this respect has built up a solid and wide industrial base in the Kingdom. SIDF also provides to SIDF-financed projects technical, administrative, financial and marketing consultancy services. These services have been instrumental in improving the project performance level and help overcoming the obstacles and challenges they faced.
In earlier stage, the Fund was entrusted by then Ministry of Finance and National Economy to manage the government program for financing electricity companies operating in the Kingdom. The program contributed significantly to supplying and transmitting electricity to many parts of the Kingdom. Similarly, the Fund was tasked to manage the cold stores financing program, as well as the date-processing financing program. Furthermore, SIDF participated in the study and analysis of the government support for public hospitals. At present, the Fund is managing the Small & Medium Enterprises Loan Guarantee Program, KAFALAH.
SIDF contributes effectively to enhanced knowledge on issues of concern to Saudi industry with intension to contribute to the sector development. To this end, SIDF conducts on periodical basis industrial, sectoral, and marketing studies on industry's performance, obstacles and challenges, with a particular focusing on strategic issues pertaining to industrialization.
SIDF recruits, trains and qualifies Saudi cadre of professional, technical and administrative employees at highest level of expertise and experience.