The Small and Medium Enterprises General Authority “Monsha’at” marked the first day of Biban 2025, which it organizes in Riyadh under the theme A Global Destination for Opportunities, with the signing of more than 30 agreements and memorandums of understanding and the launch of several entrepreneurial and financing initiatives worth more than SAR 22.3 billion. The aim is to support entrepreneurship in various fields and strengthen the Kingdom’s position as a global hub for entrepreneurial activity.

Monsha’at signed cooperation agreements with several local banks to provide financing portfolios, including an agreement with Riyad Bank worth SAR 5 billion, another with Al Rajhi Bank worth SAR 4 billion, an agreement with Arab National Bank to provide a SAR 2 billion financing portfolio, Alinma Bank for SAR 1 billion, Bank AlJazira for SAR 1 billion, Banque Saudi Fransi for SAR 700 million, and a memorandum of understanding with the Saudi National Bank. These agreements aim to provide financing portfolios to support entrepreneurs and micro, small, and medium enterprises (MSMEs) and their financing activities.

Monsha’at concluded three cooperation agreements: with Saudi Aramco to support fast-growing enterprises under the Tomoh Program, with the Social Development Bank to provide financing and training programs to entrepreneurs, and with the Saudi Reef Academy to empower agricultural sector entrepreneurs through business development and sustainability programs.

The first day included a series of financing and technology launches to support MSMEs. Bank Albilad launched two financing portfolios, the first worth SAR 2.9 billion to support entrepreneurs and MSMEs, and the second worth SAR 200 million to support fast-growing enterprises under the Tomoh Program. The Saudi National Bank launched a SAR 5 billion financing portfolio to provide flexible and innovative financing solutions that strengthen the expansion and sustainability of enterprises, and Saudi Awwal Bank introduced a new digital service, Instant Account Opening for Sole Proprietorships, to make it easier for micro, small, and medium companies to open accounts. Monsha’at also launched the artificial intelligence track of the Virtual Lab to support startups in adopting AI technologies through specialized tools and experts, alongside the Enterprise Cyberspace Enablement Program, which serves more than 500 enterprises to strengthen their digital security, while the National Cybersecurity Authority announced the launch of the Cybersecurity Accelerator.

The SME Loan Guarantee Program (Kafalah) also signed several agreements with Tarmeez Capital, Bidaya Finance, Sukuk Capital, and Rakeez Capital, worth SAR 300 million, while the SME Bank signed two agreements with Al Jabr Finance and Yanab Finance worth SAR 220 million in support of SMEs and entrepreneurs.

Monsha’at concluded several international agreements, including a memorandum of understanding with the Japan External Trade Organization (JETRO) to support Saudi and Japanese companies and exchange invitations to specialized entrepreneurship events, and one with the Korea Institute of Startup and Entrepreneurship Development to enhance financial access for technology enterprises and develop a shared economic environment between the two countries. It also concluded a memorandum of understanding with Thailand’s National Innovation Agency to support technology startups through joint innovation competitions and cooperation programs with research centers and business incubators. The agreements also included a memorandum of understanding with Enterprise Singapore, the country’s business development agency, to cooperate on the international expansion program and design joint incubators and accelerators, and another with India’s Ministry of Commerce and Industry under the Startup India initiative to develop incubation and guidance programs for startups.

Monsha’at signed a memorandum of understanding with the Korea SMEs and Startups Agency (KOSME) to exchange knowledge and develop policies and programs supporting MSMEs, and another with the Swedish Trade and Invest Council (Business Sweden) to connect Saudi companies with Swedish incubators and accelerators and draw on the Swedish experience in entrepreneurship programs, in addition to a memorandum of understanding with the French Business Development Agency (Business France) to design capacity-building programs and organize joint workshops between the two sides.

On the technology front, Monsha’at signed a memorandum of understanding with the LinkedIn platform to support fast-growing companies through workshops and knowledge transfer, and another with Standard Chartered Capital to implement the Women in Tech program dedicated to supporting women-led startups.

These partnerships and agreements reflect Monsha’at’s commitment to building an integrated ecosystem that supports entrepreneurship, and contribute to achieving the objectives of Saudi Vision 2030 by empowering MSMEs, strengthening innovation, and diversifying the national economy.