The Asharqia Chamber in Eastern Province has announced that a financing facility of SR100 million is now available to fund small- and medium-sized enterprises (SMEs) established by young Saudis. The SR100 million funds for the development of SMEs will be provided by the Saudi Credit and Savings Bank, which specializes in extending funds to small entrepreneurs. Asharqia Chamber, which conducts training to young Saudi entrepreneurs, signed a cooperation agreement with the Saudi Credit and Savings Bank to make available the financing facility, which is aimed to create self-employment for Saudi youths. Under the agreement, the Saudi Credit and Savings Bank, in cooperation with Asharqia Chamber, will allocate the fund over the next four years to finance new business projects to be undertaken by young entrepreneurs, craftsmen, professionals and businesswomen. The agreement was signed between Adnan A. Al-Nueim, Secretary General of Asharqia Chamber, and Abdul Rahman Bin Mohammed Al-Sheibani, General Manager of the Saudi Credit and Savings Bank. “This landmark financing facility is part of numerous activities undertaken by the chamber, in cooperation with local financial institutions, for the development and growth of local industries and in support of our young entrepreneurs,” Al
