Saudi Arabian fund launches $986 mln initiatives to support industrial enterprises

An aerial view shows a highway on the first day of the Eid al-Fitr in the Saudi capital Riyadh, on May 24, 2020. (AFP)

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.

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The initiatives include deferment and restructuring of loan instalments 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)

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Last Update: Tuesday, 16 June 2020 KSA 15:05 - GMT 12:05