RIYADH: The Saudi Social Development Bank (SDB) plans to boost its lending to small businesses after providing some SR1.6 billion in financing in the first half of the year.
The lender has a budget of SR11 billion this year according to CEO Ibrahim Al-Rashed.
Last year the bank provided financing worth SR10 billion, he told Asharq Business.
SDB aims to support innovative projects with credit without the need for financial guarantees in addition to providing social loans to individuals.
