The Small and Medium Enterprises General Authority “Monsha’at” announced that the number of beneficiaries of its recently launched initiatives has reached more than 2.6 million, as part of its efforts to help the SME sector and entrepreneurs face the financial and economic impacts of the coronavirus pandemic.

The last session of the SMEs Support Council also concluded yesterday, held under the title Business Resilience and Adaptation for SMEs, with the attendance of the Deputy Minister of Commerce for Commercial Business, the Deputy Minister of Municipal and Rural Affairs for Planning and Programs, and the Assistant Deputy CEO for Operations for Branches and Inspection at the Saudi Food and Drug Authority. The session, presented by Khalid Al-Aqili, discussed how SMEs are adapting to the coronavirus pandemic and the key initiatives offered by Monsha’at and these entities.

Among the initiatives Monsha’at launched at the onset of the pandemic were the launch of the Virtual SMEs Support Center and the holding of the SMEs Support Council, which hosts several decision-makers and discussions on developments in the SME sector.

Monsha’at also launched the Monsha’at Academy, which aims to offer remote training courses in several fields, along with the Nawafth Monsha’at app, launched to provide online consultations to beneficiaries. In addition, it postponed the payments due under the Indirect Lending Initiative for one year.

Government entities in the Kingdom of Saudi Arabia concurrently launched several initiatives aimed at mitigating the economic and financial impacts of the novel coronavirus, whether directed at individuals, enterprises, or investors.