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  • 15-03-20

    KSA: USD13.3 billion program to cushion private sector from impact of COVID-19

    (MENAFN) USD13.3 billion program was announced by Saudi Arabian Monetary Authority to protect the private sector from the impact of COVID-19.


    As said in a statement by Saudi Arabian Monetary Authority, the program, which mostly covers small and medium companies, will fund them a 6-month extension on bank debts by giving 30 billion riyals for banks and financial firms.


    The statement added that, the private sector will also get funding totaling 13.2 billion riyals, while 6 billion riyals will go to banks to enable them to give some payment exceptions to small and medium firms.


    3-month payments of stores and private firms will also be supported by the program with a budget of 800 million riyals.

    MENAFN1503202000450000ID1099855997

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