Saudi fund launches 3.7 bln riyals initiatives to support industrial enterprises

The Saudi Industrial Development Fund (SIDF) said on Tuesday it launched initiatives totalling 3.7 billion riyals ($986.40 million) to support private sector industrial enterprises impacted by the coronavirus pandemic. The initiatives include deferment and restructuring of loan instalments for small, medium and large enterprises, as well as medical ones.

The Saudi Industrial Development Fund (SIDF) said on Tuesday it launched initiatives totaling 3.7 billion riyals ($986.40 million) to support private sector industrial enterprises impacted by the coronavirus pandemic.

The initiatives include deferment and restructuring of loan installments for small, medium, and large enterprises, as well as medical ones. They also include lines of credit to finance operating expenses for up to three months for some small and medium-sized enterprises, SIDF said in a statement. ($1 = 3.7510 riyals)