24 April 2020 – Provided loan guarantees to small to medium enterprises

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:
Level of Jurisdiction: National
Lead People/Agency:

Overview: The Saudi Arabian Monetary Agency, in cooperation with the Small and Medium Enterprises Financing Guarantee Program, launched the secured financing program.

This program guarantees a rate of 95% of the value of the financing granted according to the mechanisms approved within the Kafala program.

The Kafalah Program is a program launched by the Saudi Industrial Development Fund (SIDF) and Saudi banks that aims to promote financing to small and medium enterprises within the Kingdom of Saudi Arabia.
Full details here: http://www.sama.gov.sa/ar-sa/News/Pages/news-554.aspx