Riyadh – Mubasher: The Social Development Bank (SDB) registered total financing of more than SAR 1.70 billion during the first quarter (Q1) of 2025, benefiting more than 20,000 citizens and enterprises.
Meanwhile, the total financing for entrepreneurs and owners of emerging enterprises amounted to SAR 505 million, benefiting more than 1,800 enterprises, according to a press release.
The announcement came during the regular meeting for Q1-25, which was chaired by Ahmed bin Sulaiman Al Rajhi, the Minister of Human Resources and Social Development (MHRSD), Chairman of SDB’s board, and in the presence of the board members.
Regarding social financing, the total financing reached SAR 504 million, benefiting more than 9,800 citizens through marriage, family support, and home renovation products.
Moreover, the number of beneficiaries from freelance and productive family financing reached 8,500, with total financing exceeding SAR 670 million, achieving a growth rate of 329% in Q1-25 compared to the previous quarter of last year.
CEO of SDB, Sultan bin Abdulaziz Al Hamidi, said: “We began this year by achieving qualitative accomplishments that serve various segments of society, thanks to the support and care provided by our wise leadership to strengthen the journey of social and economic development in line with the objectives of Vision 2030.”
Al Hamidi noted: “These figures reflect our commitment to supporting the national economy, enhancing the financial stability of families, and creating funding opportunities that contribute to sustainable community development.”
The first quarter also witnessed the launch and activation of the corporate social responsibility portfolio through several business accelerators in partnership with Jahez, the Saudi National Bank (SNB), and ACWA Power.
Additionally, a strategic agreement was signed with the Sakan foundation as part of the second edition of the Jood Al Manatiq campaign, aiming to provide 4,000 housing units for eligible families across the Kingdom.
SDB also focuses on supporting promising sectors such as e-sports, gaming, and tech entrepreneurship. The value of financing portfolios for these sectors has been increased to more than SAR 1.30 billion, in conjunction with the LEAP 2025 conference that was held in February 2025.
This initiative supports gaming, e-sports, and IT development, under the umbrella of the National Development Fund, in collaboration with both the Saudi Esports Federation and the National Technology Development Program.
