20 March 2020 – Increased support to small to medium enterprises and limited income families

This item is sourced from COVID-19 Policy Watch co-ordinated by Policy. We are in the process of gathering further information and aligning taxonomies for these items.

Type of Intervention: Business support
Sectors Involved: Wage and income support
Level of Jurisdiction: National
Lead People/Agency:

Overview: The Social Development Bank has launched a SAR 12 billion program to cushion the economic impact of COVID-19 on family based small to medium enterprises and limited income families.

Support for low income families will increase by 4 billion riyadh.

2 billion riyals is allocated for the support of small and micro- enterprises.

2 billion riyals is allocated for the support of small health care centers.

2 billion riyals is allocated for funding 50 thousand small establishments to support local content in all regions of the Kingdom.

Grace period for payments is extended for all projects that were funded during 2019 and 2020 for 6 months, bringing the total value of the deferred premiums to 2 billion riyals.
Full details here: https://sdb.gov.sa/ar-sa/media-center/our-news/%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D8%AA%D9%86%D9%85%D9%8A%D8%A9-%D8%A7%D9%84%D8%A7%D8%AC%D8%AA%D9%85%D8%A7%D8%B9%D9%8A%D8%A9-%D9%8A%D8%B7%D9%84%D9%82-%D9%85%D8%A8%D8%A7%D8%AF%D8%B1%D8%A9-%D8%AF%D8%B9%D9%85-%D8%A8%D9%82%D9%8A%D9%85%D8%A9-12-%D9%85%D9%84