SIDF Supports More Than 4,000 Projects Over 50 Years with Investments Totaling Nearly 700 billion Riyals

The Saudi Industrial Development Fund (SIDF) celebrated yesterday, Monday, the occasion of its 50th anniversary with the presence of esteemed guests from the public sector, the industrial sector, financial institutions, and current and former SIDF leadership and employees. SIDF organized an event with an accompanying exhibition showcasing its journey over five decades, its impact on the national economy, and the development of national human resources.

Over the past five decades, SIDF has played a pivotal role in supporting and empowering industrial development in the Kingdom. Since its establishment, SIDF provided loans exceeding SAR 180 billion to more than 4000 projects, with a total investment of approximately SAR 700 billion in various industrial sectors and across the Kingdom.

The event also highlighted SIDF’s attractive work environment and role in human capital development. Over five decades, SIDF has given great importance to the training of national cadres, culminating in the establishment of its Academy in 2019, to upskill employee’s knowledge, the wider industrial ecosystem, and the private sector.

SIDF continues to be at the forefront of economic development in the Kingdom. Since the launch of Vision 2030, SIDF lending activities has exceeded that of the first 35 years of SIDF’s history. The grand majority of which has been directed to support projects that are first of their kind in the Kingdom and the region, in sectors such as automotive, shipbuilding, hydrogen in addition to various mining industries.