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9 billion for industrial projects

Posted By Morris On 31 Mar 2019 in Materials and Products

industrial projects
The Director General of the Industrial Fund, Dr. Ibrahim bin Saad Al-Mujal, confirmed that the Fund's appropriations during the fiscal year 2018 exceeded SR 9 billion, which contributed to the establishment of 108 industrial projects with total investments exceeding 35 billion riyals. Loans approved by IFAD during the previous year. The meeting was attended by Deputy Chairman of the Industrial, Energy and Mineral Resources Committee Nayef Bin Meshaal Al Zaidi, a number of members of the Board and businessmen. In the past ten years, the Fund has approved 294 loans for 622 industrial projects worth more than 17 billion riyals. Small and medium enterprises received 82% of the loans granted.

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