The Saudi Industrial Development Fund (SIDF) has announced the expansion of financing the mining sector, which is one of the main sectors funded by SIDF, in addition to industry, energy and logistics sectors. This comes as a confirmation of SIDF's roles as a major financial provider for the National Industrial Development and Logistics Program (NIDLP). SIDF's mining sector support policy aims to develop the sector and increase its contribution to non-oil GDP and job opportunities, and contribute to raising the flow of domestic and foreign investments in the Kingdom, as the mining sector is considered one of the most important investment pillars of the Kingdom's Vision 2030, due to the Kingdom's mineral wealth and geographical location between three continents. The Fund contributes to financing mining projects for all types of minerals with a financing rate of 75% of the project's costs eligible for financing. The funding has also been expanded to include the final stage of the delineation process, which includes drilling and mining, in addition to backing support services companies that contribute to raising the added value and the sustainability of the sector in the Kingdom.
