The Saudi Industrial Development Fund (SIDF)
Founded1974
Headquarters
Riyadh
Key people
Ibrahim Almoajil, (Director General)
Websitewww.sidf.gov.sa

The Saudi Industrial Development Fund (SIDF) is a financial wing of the Saudi Arabian government established in 1974.[1] The SIDF was established to provide mid-term and long-term loans to the private industrial sector.[2] It is currently led by the Chief Executive Officer, Dr. Ibrahim Almojel.[3] In 2018, the fund had appropriations of more than $2.4 billion, which has led to the establishment of 108 industrial projects.[4] Previously, SIDF used to finance only local manufacturing businesses. However, 2019, SIDF has started to finance energy, logistics and mining projects in Saudi Arabia.[5]

SIDF and Vision 2030

SIDF exerts all efforts to maintain its pioneering role in the development of the local industrial sector and keep abreast with the latest developments. Saudi Vision 2030, It attains this goal by pushing for integration with government entities,[6] I and expands the reach of its support to cover a number of promising sectors in the areas of industry, energy, mining, and logistics.[6]

References

  1. ↑ "Historical Review".
  2. ↑ "Saudi Industrial Development Fund (SIDF), Saudi Arabia - Company Information, Key People, Latest News and Contact Details - ZAWYA KSA Edition". www.zawya.com. Retrieved 2019-07-10.
  3. ↑ "Ibrahim AlMojel".
  4. ↑ "Who's Who: Ibrahim Almojel, director general of the Saudi Industrial Development Fund". Arab News. 2019-03-29. Retrieved 2019-07-10.
  5. ↑ "Saudi Arabia to expand reach of $28 billion industrial fund". The National. 12 July 2019. Retrieved 2019-07-24.
  6. 1 2 "SIDF to Start New Phase to Support Economic Sectors". Asharq AL-awsat. Retrieved 2019-07-10.


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