The Minister of Finance, Dr. Ibrahim bin Abdulaziz Al-Assaf has said that Saudi Industrial Development Fund (SIDF) provided a total of 2,694 loans to fund establishment of 1,779 industrial projects that have been implemented or under implementation throughout the Kingdom of Saudi Arabia. The estimated cost of these projects amounted to SR 272.228 billion since the inception of the Fund in 1394H until the end of the year 1430H. SIDF's contribution to these projects accounted for SR 69.168 billion. Dr. Al-Assaf said in the preface of an annual report issued by the Fund and reported by Saudi Press Agency (SPA) said that the Fund had played a major role in implementing the guarantee program for financing small and medium enterprises managed by the Fund in coordination with the commercial banks participating in the program, stressing that the total number of guarantees approved by the Program since its launch until last year had reached 1,110 guarantees amounting to SR 449 million in comparison to an amount of SR 1.07 billion provided by the banks. The Minister of Finance expressed his thanks to and appreciation of the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz Al Saud, the Crown Prince, and the Second Deputy Premier for their unlimited support and directives for Saudi Industrial Development Fund, and other funds which have enabled them to achieve the aspirations of the Saudi leadership. --MORE
