The financing portal, which works to link the financing agencies electronically with the Saudi Small and Medium Enterprises General Authority “Monsha’at”, has contributed to the financing of more than 3,000 establishments, with a value of more than 12 billion riyals.
“Monsha’at” stated that the financing provided by banks and finance companies for small and medium enterprises exceeded 200 billion riyals, and recorded a record growth during the past four years that exceeded 110 percent by the end of 2021 compared to the beginning of 2018.
The authority indicated that this matter reflects the government’s great interest in supporting the establishments sector and entrepreneurs, in order to achieve the goals of “Vision 2030” in developing the sector’s contribution to the GDP to reach 35%, according to what was reported by the “Al-Iqtisadiah” newspaper.
Monshaat explained that the funding allocated to start-up companies increased by 65% compared to the same period last year, with investors allocating more funding in this aspect, which is a large number despite the many crises that the countries of the world have experienced, especially the pandemic. corona.
However, the authority added, “However, the Kingdom achieved first place globally in the government’s response to the Corona pandemic, and the response of entrepreneurs to the Corona pandemic, while it advanced in the entrepreneurship status index to the seventh place in the world after it was in the 17th place, according to the report of the Global Monitor for Entrepreneurship Business GEM for 2020/2021”.