Sayari said the Saudi Government has launched a direct program of soft loans for supporting the private sector and helping it in establishing projects of economic development. He pointed out that the loans extended within the framework of the program amounted in 2006 to 470 with a value of $1.6 billion. He noted that in 2006 a Royal decree was issued approving the basic system of the Saudi Credit Bank which aimed at extending interest-free loans to the small and medium establishments, and the loans in that year amounted $30.6 million. Thanks to Allah Almighty, the Saudi economy is swiftly growing at all economic sectors in an unprecedented manner, he said noting that such a swift growth will pave the way for increasing the productive capacity and creating sustainable development. Highlighting the policy of the Government as regards reforms and economic liberation in addition to attracting foreign investment, he said that policy will have a positive impact on the small and medium establishments. The inaugural session was attended by about 300 officials at the financial and banking sector.
