The Small and Medium Enterprises General Authority “Monsha’at” and Banque Saudi Fransi (BSF) signed a cooperation agreement aimed at allocating a SAR 700 million financing portfolio to support entrepreneurs and SMEs in the Kingdom.
The agreement was signed during the Biban 24 forum, which Monsha’at organizes under the theme A Global Destination for Opportunities from November 5 to 9 at the Riyadh Front Exhibition and Conference Center.
The agreement was signed on behalf of Monsha’at by the General Manager of Funding, Abdulaziz Aljufali, while BSF was represented by the Chief Executive of Corporate and Institutional Banking, Majed Alsadhan.
The agreement aims to develop the entrepreneurship ecosystem and strengthen the role of SMEs in the national economy by providing customized financing solutions that suit entrepreneurs’ needs.
This cooperation comes to provide financing programs that include discounts and special offers, making it easier to obtain financing in accordance with the regulations and rules in force in the Kingdom. The cooperation also supports financial innovation and sustainability, in pursuit of strengthening SMEs’ contribution to achieving economic development.
The Biban 24 forum represents a strategic platform for enabling entrepreneurs to explore opportunities and strengthen the sustainability of their businesses, through new initiatives and partnerships that open horizons for future cooperation among entrepreneurs in the Kingdom and at the regional and global levels.