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07-02-21
Saudi Arabia witnesses rush in financing awarded to small, medium-sized enterprises
(MENAFN)According to an official, Saudi Arabia witnessed a rush in financing awarded to small and medium-sized enterprises (SMEs) in the previous year by the Kingdom’s banks and financial companies in spite of the constraints of the economic impact of the Coronavirus.
According to the statistics by the Saudi Central Bank (SAMA) represented that in the third quarter of the previous year the amount of credit awarded to SMEs stood at SR 176.2 billion (USD46.99 billion), increased from SR115 billion in Q3 2019 and SR 106.7 billion in Q3 2018.
As the total amount increased 8.3 percent in 2019, it surged 52.4 percent in 2020.
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